Codemasters Group: a racey future ahead (Updated)
Codemasters is a video game developer and publisher, specialising in high quality racing games. The shares have performed well over the pandemic and the Group has attracted another approach from a large US-listed peer, Electronic Arts trumping the initial low-ball offer of Take-Two Interactive. Our in-depth report highlights its attractions and comments on the latest offer.
With its HQ in Warwickshire and employing over 750 people in the UK, Malaysia and India, Codemasters Group Holdings (LON:CDM) has a 30 year track record of producing successful racing video games. The group owns the Intellectual Property (‘IP’) to 3 games DiRT, GRID and ONRUSH but, more significantly, has exclusive rights over the official videogame of the FIA FORMULA ONE WORLD CHAMPIONSHIP (‘F1’), which is assumed to represent a large percentage of group revenue, although exact numbers are not provided. In October 2019 it extended its F1 contract from 2021 until 2025, with a further option for the 2026 and…