Electronic Arts has announced it has reached an agreement to purchase Formula 1 video game developer Codemasters in a $1.2billion deal.
Codemasters has developed each of the past 12 F1 games from 2009 through to the current season, with each entry adding depth to the gaming experience.
Confirming the deal in a statement on Monday, Codemasters chairman Gerhard Florin said: “Electronic Arts and Codemasters have a shared ambition to lead the video game racing category.
"The board of Codemasters firmly believes the company would benefit from EA’s knowledge, resources and extensive global scale – both overall and specifically within the racing sector.
"We feel this union would provide an exciting and prosperous future for Codemasters, allowing our teams to create, launch and service bigger and better games to an extremely passionate audience."
The deal is expected to be complete in the "first quarter of 2021" and will see titles DiRT, DiRT Rally, Grid and Project Cars, along with the F1 titles, switch to EA.
EA's most recent F1 title was 'F1 Career Challenge' in 2002 which allowed players to complete a short four-year career across the 1999-2002 seasons.
Andrew Wilson, CEO of EA, added: “We believe there is a deeply compelling opportunity in bringing together Codemasters and Electronic Arts to create amazing and innovative new racing games for fans.
"Our industry is growing, the racing category is growing, and together we will be positioned to lead in a new era of racing entertainment. We have admired Codemasters’ creative talent and high-quality games for many years.
"With the full leverage of EA’s technology, platform expertise, and global reach, this combination will allow us to grow our existing franchises and deliver more industry-defining racing experiences to a global fan base.
"We are pleased that both our boards of directors are recommending this transaction, and we look forward to welcoming such an exciting and talented team to the Electronic Arts family."