Yesterday, it was announced that the UK based publisher/developer Codemasters has acquired Slightly Mad Studios the developers of the hit racing series Project CARS. In a post on the official Codemasters website, the company states the acquisition now solidifies their position of one of the world’s leading developer and publisher in the racing game genre.

Codemasters has agreed to acquire racing simulation specialists and creators of Project CARS, Slightly Mad Studios!

Full details ▶ https://t.co/KiUCVpaTlc pic.twitter.com/5ap8tMuPlG

— Codemasters (@Codemasters) November 28, 2019

According to GamesIndustry.biz, the acquisition came in at a whopping $30 million USD. This amount is being paid upfront and will be divide as $25 million in cash and $5 million in stock. As for Slightly Mad Studios itself, Founder and CEO Ian Bell will still be helming the studio under Codemasters. The studio is bringing their hit racing series Project CARS with them, a new unannounced game based on a Hollywood blockbuster title, and, according to GI.biz, another Slightly Mad Studios IP.

Codemasters’ CEO Frank Sagnier expressed his excitement about the acquisition by stating, “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” Bell would describe their racing catalouge as the “envy of the industry,” and expressed his excitement stating, “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.”

One suspiciously missing piece of information from the announcement was any reference to Slightly Mad Studios’ planned standalone console. After announcing the console at the beginning of the year, things appeared to have gone awry as just a few short months later investors started to back out, and the console’s future was left uncertain. Now, with the acquisition and financial backing of Codemasters, it will be interesting to see if plans for the console are still underway.