The Codemasters portfolio continues to grow.
Codemasters and Slightly Mad Studios logos

Codemasters picked up Slightly Mad Studios this past week for a cool $30 million. Slightly Mad Studios is the development team behind the Project Cars games.

Codemasters is certainly no stranger to racing games. They are known for bringing the world a plethora of racing games over the years. They own the rights to the Dirt, Grid, and Formula 1 franchises. Slightly Mad Studios has been around for about 10 years now. They previously worked on some games for EA including Need for Speed: Shift and Shift 2: Unleashed. They really came into their own around 2015 with the release of the first Project Cars title. The follow-up, Project Cars 2, came out in 2017.

Prior to being acquired by Codemasters, Slightly Mad Studios was working on a new Project Cars game. They were also working on an "unannounced Hollywood blockbuster title" that was almost unanimously assumed to be for the Fast & Furious series.

Ian Bell will stay on as the Founder and CEO of Slightly Mad Studios.

“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,” said Frank Sagnier, Chief Executive Officer at Codemasters. “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,” said Ian Bell, Founder and Chief Executive at Slightly Mad Studios. “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.”