EA Buys Codemasters For $1.2 Billion

California-based Electronic Arts [EA] has purchased UK-based Codemasters for a reported $1.2 billion.

Codemasters originally had a deal with Take-Two Interactive Software but EA emerged with a higher offer, which Codemasters accepted.

EA owns the “Need for Speed” franchise while Codemasters is known for their Formula One games for Sony’s Playstation consoles.