Codemasters acquires Slightly Mad Studios
Two racing developers are now one
Codemasters has acquired Slightly Mad Studios. This expands Codemasters portfolio (GRID, DiRT, F1) to now include the Project Cars franchise and an untitled Hollywood blockbuster game. The two companies will hold their respective leadership positions. Frank Sagnier will remain CEO of Codemasters Group plc (includes Slightly Mad Studios) and Ian Bell will retain his position of Founder and CEO of Slightly Mad Studios. This means that Codemasters now employs around 700 people with offices in London, Birmingham, Southam, and Runcorn. The deal is said to be worth $30 million.
"We are delighted to bring such an incredible racing game developer to the Codemasters family, and this unequivocally establishes us as a global powerhouse in the development of racing titles," said Frank Sagnier, Chief Executive Officer at Codemasters.
"Our combined racing games portfolio is the envy of the industry and this new partnership will enable us to learn from each other, share resources and take advantage of emerging platforms and technology," said Ian Bell, Founder and Chief Executive at Slightly Mad Studios.
Codemasters recently extended their FIA Formula One World Championship contract to 2025. Slightly Mad Studios released Project Cars 2 in September 2017.