Racing game studio Codemasters is now officially a part of EA as the publisher confirms its approximately $1.2 billion purchase of the developer is complete. Electronic Arts shared the news as part of a press release as well as on Twitter, where it welcomed the developer into the "EA family". This now means that the DIRT, Project Cars, GRID, and F1 IPs belong to the California-based heavyweight.

In a statement, EA CEO Andrew Wilson said the acquisition marks a new era for the genre. "Racing fandom continues to grow worldwide, and the franchises in our combined portfolio will enable us to create innovative new experiences and bring more players into the excitement of cars and motorsport. Our teams will be a global powerhouse in racing entertainment, with amazing games for players on every platform, and we can’t wait to get started."

Codemasters CEO Frank Sagnier adds that this deal will allow the team to take its franchises to new heights and reach an even bigger audience of players worldwide. "Together we can redefine the landscape of racing games to create even more compelling experiences for racing fans around the world."

What racing franchises do you hope to see Codemasters work on next? A new Need for Speed game from the British developer? Or maybe an F1 title with an increased budget? Share your hopes and dreams in the comments below.