wordpress blog stats
Connect with us

Hi, what are you looking for?

Reliance Group sells 60% stake in Codemasters for Rs 1700 crore, nets 25x gains

Video games gaming cmn

Anil Ambani's Reliance Group has sold its 60% stake in video game publisher Codemasters for Rs 1700 crore, Economic Times reports. The Rs 1700 crore price tag represents a 25 times growth in valuation for the British video game maker. In 2009, the group had acquired a 90% stake in Codemasters, best known for its racing video games, for Rs 100 crore. The shares have reportedly been offloaded to about 30 institutional investors in the UK and Europe and had attracted bids of over Rs 5,000 crore. The deal, part of Codemasters’ public offering, will see its shares listed on the AIM sub-market of the London Stock Exchange (LSE) the ET report added. Based on the deal value, the Reliance’s remaining 30% stake is worth Rs 850 crore. Codemasters management, led by CEO Frank Sagnier, holds the balance 10%. Codemasters' focus on racing games Codemasters is one of the few mid-tier developers that survived the switch to the current generation of consoles as rising development costs and change in business practices claimed companies like THQ. The early part of this decade saw top-tier studios like Electronic Arts (makers of FIFA, Battlefield), Activision (makers of Call of Duty), Take-Two (makers of Grand Theft Auto) grab a lion share of the market. The remaining portion of the market was grabbed by a diverse set of independent developers working on creative low-cost games, effectively squeezing out companies like Codemasters. So how did Codemasters survive and see such a massive growth in valuation? By…

Please subscribe/login to read the full story.
Written By

Writes about consumer technology, social media, digital services and tech policy. Is a gadget freak, gamer and Star Wars nerd.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ