Some big news for racing game fans as Codemasters, the studio behind titles like F1 2019 and GRID, has acquired fellow racing studio Slightly Mad Studios, the former announced on Thursday.
GamesIndustry.biz reports that Codemasters purchased the studio for $30 million in cash and stock.
“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,” Codemasters CEO Frank Sagnier said in a statement. “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.”
Slightly Mad Studios is known for developing the highly-regarding Project CARS simulation racer. The most recent edition, Project CARS 2, launched in September 2017 while the third installment of the game has been in development ever since.
There has been no word on what this acquisition means for the future of the Project CARS franchise or the other racing games from either party. However, Founder and CEO of Slightly Mad, Ian Bell, expressed excitement for the future in a statement released with the announcement.
“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,” he said. “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.”
Bell will remain on as CEO of Slightly Mad Studios under the watch of Codemasters.