Report – New Codemasters investor set to be announced

By Patrick Garratt, Monday, 18 January 2010 11:37 GMT

operationflashpoint2

If this Times report is to be believed, Codemasters has landed itself a new investor, a potentially life-saving move for the UK publisher.

The piece says Codemasters is “close” to securing a “cash injection”.

Existing backers Balderton Capital and Goldman Sachs will also inject new funds but their investment will be heavily diluted by “restructuring,” claims the article.

The current investors bought out founding brothers Richard and David Darling in 2007 and geared up the business with £52m of debt. Floating was the goal, apparently.

Rumours regarding Codemasters’ future have been long-running behind UK doors. The strongest whiff at a sale came last year, when talk of Warner coming close to buying the company emerged.

Codemasters’ Christmas line-up last year centred on DiRT2 and Operation Flashpoint: Dragon Rising.

We’ve asked for comment.

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