Codemasters acquires Project Cars developer

Codemasters has acquired Project Cars developer Slightly Mad Studios for $30 million.

Slightly Mad Studios was originally founded in 2009 and has created two entries in the Need for Speed series and two Project Cars titles. The developer is currently working on a third entry in the Project Cars series.

“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,” Frank Sagnier, Chief Executive Officer at Codemasters, said. “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.”

“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,” Ian Bell, Founder and Chief Executive at Slightly Mad Studios, added. “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.”

The announcement also mentioned that the acquisition includes “an unannounced Hollywood blockbuster title” that Slightly Mad Studios is working on.

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