14 DAY TRIAL // Codemasters has just announced it has agreed to acquire Slightly Mad Studios, the developer mostly known for the Project CARS series. The deal is reported by a $30 million buyout, but neither party confirmed the financial details of the acquisition.
“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,” said Frank Sagnier, Chief Executive Officer at Codemasters.
With the acquisition of Slightly Mad Studios, Codemasters now has approximately 700 employees globally working in offices located in four cities: London, Birmingham, Southam, and Runcorn.
The announcement doesn't come as a surprise considering the pedigree of both companies. Codemasters has a rich history of creating high-profile racing games, such as DiRT, GRID and Formula 1 Series, while Slightly Mad Studios is directly responsible for two Need for Speed games and its own IP, Project CARS.
“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. My team is excited to be joining Codemasters and we can’t wait to forge a relationship based on creativity, passion and the desire to create new racing experiences that excite and delight our communities,” said Ian Bell, Founder and Chief Executive at Slightly Mad Studios.
Currently, Slightly Mad Studios is reportedly working on three different projects – a third Project CARS game, a game based on a “Hollywood blockbuster movie franchise” rumored to be related to the Fast & Furious film series, and a mobile game called Project CARS GO.