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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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EA buys Codemasters for $1.2B

is buying U.K.-based game developer in deal valued around $1.2 billion, after outbidding rival .

London-based Codemasters is best known for its racing games, including its Formula One and Dirt racing game franchises. Combining with EA puts those titles under the same ownership as the popular racing game series Need for Speed.

The deal marks the largest acquisition to date for Electronic Arts.

Reddit acquires Dubsmash

Reddit that it has acquired short-form social video platform for an undisclosed sum.

Founded in 2014, New York-based Dubsmash previously raised at least $20 million in known venture funding, per Crunchase data. Its mission, per , is “to elevate under-represented creators.”

Going forward, Dubsmash will be run as its own entity and brand within Reddit.

Funding rounds

• German Bionic raises $20M: , an Augsburg, Germany-based startup developing exoskeleton technology that people can wear to augment their physical abilities, has raised $20 million in a Series A funding round co-led by and German investor .
• Neufund raises 4M euros: , a fintech startup headquartered in Liechtenstein that connects innovative companies seeking capital with progressive investors, announced a raise of 4 million euros led by and .
• Cnote banks $3M for social investing: , an Oakland, California-based financial technology platform focused on socially responsible investing, closed a $3 million funding round led by .

M&A

MassMutual to acquire Flourish: Massachusetts Mutual Life Insurance Co. () and that MassMutual will acquire , a fintech platform for registered investment advisers. Financial terms of the transaction are not being disclosed. The deal is expected to close in the first quarter of 2021.

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