Codies Bids Farewell To Its Darling Founders News
Jon Wilcox
14/06/2007
Investment group buys out the remaining shares from the Darling family as Goldman Sachs secures further financial clout for Codies...
Having purchased significant shares in 2005 and 2006, investment firm Balderton Capital has today confirmed that it has acquired the remaining interest from Codemasters founders, the Darling family.
The move now means that Codemasters should be able to continue their growth and expand their portfolio, which has seen the emergence of Lord of the Rings Online: Shadows of Angmar and the upcoming Overlord. After a twelve month hiatus, Colin McRae is also set make a return at the end of the week in DiRT.
Ynon Kreiz, General Partner of Balderton Capital and Board Member of Codemasters, said: "Codemasters is now fully funded and ready for its next stage of growth, with a great pipeline of new products and a world-class management in place. We are grateful for the contribution made by Jim, David and Richard and the key role they played to position the company for the future."
Rod Cousens, CEO of Codemasters, said: "This new investment heralds the next stage for Codemasters as it realises its ambitions to be a global player, readying itself for the digital age. For more than 20 years, Jim, David and Richard built Codemasters to become one of the video game industry's great British success stories; they brought enjoyment to many and made a valuable contribution to the industry as a whole."
The publisher has also confirmed that it has secured an additional cash injection of £50 million from Goldman Sachs, which is being put towards Codemasters' future growth.