Codemasters â??on cusp of new investment injectionâ??

Codemasters â??on cusp of new investment injectionâ??

By Rob Crossley

January 18th 2010 at 11:07AM

Britsoft outfit to score third major backer and â??alleviate money issuesâ??, a report claims

UK studio Codemasters will soon alleviate money issues with a new investment round, a national newspaper has said.

The enduring developer and publisher will secure a third source of cash from an as-yet unnamed investment group, the report claims, adding to a new funding drive from Balderton Capital and Goldman Sachs.

“Codemasters is close to securing a cash injection after expansion plans and tough trading left it short of money,” read The Times report.

Balderton and Goldman Sachs invested close to £100 million in Codemasters after acquiring the outfit from its founding Darling family. The group’s sales in the past six months are said to have hit £100 million, up from £70 million the year prior.

Codemasters was the recent subject of an unfortunate and bogus wind-up petition, momentarily raising fears that the studio was about to go under.

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