Latest news

‘Efficiency, knowledge and clarity.’

Legal 500, 2022

Harbottle & Lewis advises long-standing client Take-Two Interactive on its recommended takeover offer for Codemasters

13 November 2020

Harbottle & Lewis is advising its long-standing games developer and publisher client Take-Two Interactive Software, Inc. on its recommended offer to acquire AIM-listed Codemasters Group Holdings plc. The cash and shares offer values Codemasters at £759m.

The acquisition, which is conditional on the approval of Codemasters’ shareholders, is anticipated to be completed in the first quarter of 2021.

Take-Two is a leading developer, publisher, and marketer of interactive entertainment for consumers around the world. Through its labels, Rockstar Games, 2K, Private Division, and Social Point, Take-Two develops and publishes a diverse portfolio of industry-leading interactive entertainment products, including Grand Theft Auto, Red Dead Redemption, and NBA 2K.

Codemasters is an award-winning British developer of high quality racing games across console, PC and mobile. Its renowned franchises include DiRT, GRID, Project CARS and the Bafta award-winning official F1® series of video games.

The Harbottle & Lewis multidisciplinary team advising on the transaction is led by Corporate partners Charlie Leveque and Tim Parker.  Mark Phillips, who leads the Firm’s Interactive Entertainment Group, is advising on commercial aspects of the transaction.

“We are thrilled to be advising Take-Two on such a high-profile transaction which, if completed, would result in a combination of highly complementary game franchises” said Charlie Leveque.

Mark Phillips said: “Take-Two has been a client of the Firm’s leading games practice for a number of years and we have seen it grow to become a leading developer, publisher, and marketer of interactive entertainment with iconic brands such as Grand Theft Auto, Red Dead Redemption and NBA 2K.

“The transaction would combine Codemasters’ expertise in driving simulation and racing with Take-Two’s global publishing and distribution network and core operating expertise in live operations, analytics, product development and brand and performance marketing.”

Back to news

Share this page