Codemasters Buys Slightly Mad Studios

There was news this summer that Modern Pick Entertainment was to acquire a "substantial" stake in Slightly Mad Studios, but now follows up on their reporting on that to say that the Project CARS developer has now been purchased by Codemasters. Word is the deal includes all of the company's 150 employees. The deal is for $25 million in cash and $5 million in stock, but there is also an "earnout clause" that can add to this total based on earnings over the next three years. They report this could ultimately add $166 million to the deal, though they quote an analyst saying this will most likely end up netting them about $68 million.