Take-Two Interactive Software Announces Takeover of London-listed Codemasters for Approximately $994 Million

November 10, 2020

Willkie represented Take-Two in the transaction.

On November 10, longstanding Willkie client Take-Two Interactive Software, Inc. (NASDAQ:TTWO) announced the approximately $994 million recommended acquisition of Codemasters Group Holdings plc, a London-listed publisher and developer of racing games. Willkie is representing Take-Two as lead counsel on UK and US law matters.

Headquartered in New York City, Take-Two publishes a diverse portfolio of industry-leading interactive entertainment products, including Grand Theft Auto, Red Dead Redemption, and NBA 2K. UK-based Codemasters develops and publishes best-in-class games across the racing category, including its Formula One franchise. Take-Two believes that the transaction creates a global leader in interactive entertainment publishing through the combination of Take-Two and Codemasters’ complementary and critically-acclaimed sports and racing franchises.

The transaction is being effected by way of a UK Scheme of Arrangement and is expected to close in the first quarter of 2021.

Earlier this year, Willkie represented Take-Two in its acquisition of mobile game developer Playdots.

Partners Adam Turteltaub (New York) and Francois Feuillat (London) are leading a cross-office Willkie team which includes partners Jennifer Tait, Jane Scobie and Geri Anne McEvoy, and associates David Griffiths, Marisa Weisbaum, Elaine Baynham and Nidhi Modani.