Reliance Big buys 50% stake in UK’s Codemasters

Reliance Big buys 50% stake in UK’s Codemasters

New Delhi: Anil Ambani-led Adag firm Reliance Big Entertainment said on Monday it will acquire 50% stake in UK-based gaming firm Codemasters.

Reliance Big Entertainment has agreed to acquire 50% shareholding in Codemasters, the company said in a statement.

The company, however, did not disclose amount involved in this deal

The remaining 50% stake is with European venture capital firm Balderton Capital, which had first invested in Codemasters in 2005.

Codemasters has revenues of over $150 million and holds major franchises in cricket and racing games, among others.

Reliance Big’s gaming division Zapak Digital Entertainment will oversee the said investment in Codemasters, the statement added.

“We are excited to partner with Codemasters ... its strong technology, development and distribution presence will complement our global gaming portfolio," Zapak CEO Rohit Sharma said.

Zapak’s global strength in mobile gaming will enhance Codemasters’ ability to fully leverage its attractive franchises such as its racing and cricket games, he added.

“The opportunities arising from this partnership are truly exciting. Reliance and Zapak have immense resources and will help us realize the full potential of our game coding and online excellence and especially in the world’s fastest growing markets," Codemasters CEO Rod Cousens said.