Codemasters Acquires Slightly Mad Studios

Codemasters has announced its purchase of Slightly Mad Studios, the Project CARS developer in a $30 million buyout. In addition to purchasing the rights to Project CARS, Codemasters gains the rights to an “unannounced Hollywood blockbuster title.”

“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,” says Frank Sagnier, CEO at Codemasters, in a press release. “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.”

With the new studio purchase, Codemasters now employes over 700 people globally with offices including London, Birmingham, Southam and Runcorn.

Slightly Mad Studios has worked on Electronic Art’s Need for Speed series, Need for Speed: Shift and Shift 2: Unleashed before shifting focus to Project CARS, a sequel in 2017, and third entry which is currently in the works.