Frontier buys Elite rights from IT firm, Braben to sell 1.6 million shares in company

Thursday, 17 April 2014 15:43 GMT By Stephany Nunneley

Frontier Developments has acquired software and IT consultancy firm Professional Practice Automation. The deal is said to be worth £5.09 million, and includes the rights to the Elite franchise.

Frontier founder David Braben plans to sell 1.6 million shares in Frontier Developments, or 5% of the company. The deal was made on Tuesday, April 15 and along with the rights to Elite, Braben now has the rights to the IT consultancy firm’s software which is used in various accountancy firms in the UK. Frontier’s latest title, Elite: Dangerous, launches sometime in 2014. Develop has more on the story. Thanks, Blue.