UK video game industry thrives amid lockdowns and US bidding wars

The lockdown boom in video games has put the spotlight on the global success of British game makers, attracting the attention of deep-pocketed US giants looking to snap up valuable pandemic-proof businesses. Electronic Arts, the California-based global gaming giant, announced a surprise £945m bid for Codemasters, the maker of Formula One racing games. EA's offer, which has been recommended by the Codemasters board, is almost £200m more than that tabled last month by its rival Take-Two Interactive, the maker of games including Grand Theft Auto, which is expected to rejoin the bidding war with a sweeter deal. The gaming industry has proved to be a coronavirus winner, with tens of millions of consumers looking for relief from lockdown boredom and Britain's pedigree ensuring excited investors sent stocks soaring. Industry veterans are not surprised by the latest boom, pointing to Britain's history of creating world-class games The handful of UK game developers that are listed on the London stock market, including the Warwickshire-based Codemasters, have all experienced share price surges of more than 100% this year.