Codemasters acquires Project CARS dev Slightly Mad Studios

Two racing giants are joining forces.

Developer Codemasters, long-time veterans of the racing game genre, has announced its acquisition of another racing game stalwart - Slightly Mad Studios. This will see Slightly Mad's Project Cars series added to Codemasters' growing collection of racing games, including Dirt, Grid, and its F1 series.

Codemasters reportedly paid $30 million in cash and stock, according to GamesIndustry.biz - and Slightly Mad's CEO Ian Bell will remain head of the studio while under the Codemasters umbrella.

Slightly Mad has three projects in the works - a new mobile title called Project Cars Go, a game based on a "Hollywood blockbuster movie franchise" rumoured to be related to the Fast & Furious film series, and a third release based on a Sightly Mad IP.