Motorsport Games announces it is in the process of acquiring developer Studio397 and the rFactor 2 Simulation Platform (thanks Eurogamer). Here's the news:

Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, announced today that it has entered a binding term sheet to acquire Studio397 BV, the company behind the industry leading rFactor 2 racing simulation platform, from Luminis International BV. The acquisition will see Studio397 continue its work on rFactor 2 while also developing the physics and handling models for Motorsport Games’ forthcoming projects. Motorsport Games expects to utilize its resources and expertise to enhance the rFactor 2 offering, especially in areas highlighted by the racing community.

Studio397 and Motorsport Games have long worked in tandem, with rFactor 2 providing the simulation platform for the highly successful 24 Hours of Le Mans Virtual race, as well as the Formula E Race at Home Challenge, both of which were operated by Motorsport Games. It is expected that Studio397 will retain its name and branding with the existing development team and management will remain with the studio.