Formula 1 and Dirt developers Codemasters have acquired Project CARS‘ developer Slightly Mad Studios for a whopping $30 million.

The predominantly racing-focused developer has acquired the popular racing developer in order to further cement their position as ““a world-leading games developer and publisher of racing videogames.”

Slightly Mad’s Founder and CEO Ian Bell will retain his position within the company, keeping management as strong as it’s always been.

Codemasters, along with acquiring the studio, will also be obtaining the rights to Project Cars and the company’s “unannounced Hollywood blockbuster title.”

“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,” announced CEO at Codemasters Frank Sagnier.

“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.”

Slightly Mad’s CEO Ian Bell continues: “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.

“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.”

Codemasters’ announcement doesn’t touch on the fate of the Mad Box console, a previously announced hardware system.

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