Codemasters has confirmed that it's to take over Sega Racing Studio with immediate effect.
According to this Eurogamer piece:
"In seizing this opportunity, we have created additional resources to escalate our plans in the racing segment," said Rod Cousens, who power-dresses for Codemasters.
"We hope to welcome more than 40 people to the company and we have enjoyed the full co-operation of our friends at SEGA in making this happen. It is good business for Codemasters, an exciting prospect, and there will be more to come as we are not content to stand still."
More through the link.