It is that time of the year where we’re all looking back at the games we’ve played, and one of them I’ve played for far too long. Codemasters have stolen more than enough of my time with F1 2019, and I’ve yet to complete a whole season. Though like any Codemasters game, I don’t regret a single minute of it; they are reliable for making simply fun racing games. Something that, considering I’ve put more than 50 hours into winning two championships, I quite like.

Now in a business acquisition by the publisher and developer, they have purchased Slightly Mad Studios, the developer and publisher of Project CARS and its sequel Project CARS 2. In a report by Gamesindustry.biz and in a joint press release by Codemasters and Slightly Mad Studios themselves, the 150-person team working at Slightly Mad Studios will now be making the transition thanks to the $30 million deal. Codemasters has paid $25 million in cash, with a further $5 million of that in stocks in the company. Though according to Editor-in-Chief Matthew Handrahan of Gameindustry.biz, the deal could be greater than this.

In the earnings before interest, taxes, depreciation, and amortization (EBITDA) across three years, it is estimated the total could be a maximum of $166 million. Though according to an analyst from Liberum, speaking to Gamesindustry.biz, the expected number would be around $67.9 million. With this acquisition, Codemasters will bring another beloved racer into their long-standing portfolio of the Dirt, Grid, and Formula 1 licensed series.

Frank Sagneir, CEO of Codemasters said, “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.” He goes on to say, “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.” This may also suggest, with Grid (2019) on Google Stadia, we can see what Codemasters have their sights on.

In a comment to Gamesindustry.biz, Sagnier said, “Codemasters’ acquisition of SMS will create a global leader in the racing genre, their focus on AAA quality and the passion that they put into everything they create mirrors our own.” He continues with, “Both companies have a number of world-renowned, successful franchises along with exciting product development pipelines, supported by leading IP and some of the best talent[s] in the gaming industry.”

Ian Bell, Slightly Mad Studios founder and chief executive said, “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 continues, “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.”

We also know that Slightly Mad Studio is working on three different titles. The team is reportedly working on a mobile game called Project CARS GO, a game based on a blockbuster franchise that’s yet to be confirmed, though many assume to be the third Fast & Furious game and a whole new IP from Slightly Mad.

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