Codemasters has acquired Slightly Mad Studios, adding Project Cars to its games catalogue

Codemasters has acquired Slightly Mad Studios, adding Project Cars to its games catalogue

Codemasters has acquired Slightly Mad Studios, adding Project Cars to its games catalogue

Codemasters has agreed to acquire Slightly Mad Studios, the developer behind Project Cars for $30 million (£23.3 million). This move will bring Slightly Mad Studios, and its racing expertise, into the Codemasters organisation, which already creates the DIRT, GRID and official Formula 1 series’ of games. 

This acquisition will take on all of Slightly Mad Studio’s 150-person staff into Codemasters, with Codemasters paying $30 million upfront for the studio. $25 million of this purchase will be in cash, and $5 million will be in stock. An earnings clause in the agreement could make this payment larger, assuming Slightly Mad meets its earnings targets. 

Acquiring Slightly Mad Studios has made Codemasters the undisputed leader of the racing game genre. Slightly Mad Studios has at least three games in development, including a mobile game, Project Cars Go, a game that’s based on a Hollywood franchise, likely Fast & Furious, and a third title that’s based on Slightly Mad’s IP, possibly Project Cars 3.  

Below are comments from Codemasters’ CEO Frank Sagnier. 

 
 

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,

We share the same passion and vision and our new partnership will accelerate our growth. With more streaming services coming to market and the next generation of games consoles due in 2020, this is the perfect time for Codemasters to take its next step.

Codemasters has acquired Slightly Mad Studios, adding Project Cars to its games catalogue  

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