Reliance raises stake in racing game developer to 60 per cent
The majority shareholder in UK studio Codemasters has upped its stake in the company by a further ten per cent.
As reported by The Telegraph, Mumbai-based outfit Reliance Big Entertainment has increased its stake in the developer to 60.41 per cent.
The company originally purchased a 50 per cent stake in the firm in 2010.
As well as upping its shares in Codemasters, Reliance recently acquired new studios in South Korea and Japan as it looks to increase its presence in the two markets.
Private equity firm Balderton Capital meanwhile has reduced its stake in the studio to just under 40 per cent.
In January, Codemasters enacted a number of layoffs at the studio as it restructured its digital development and publishing divisions, “in line with future product strategy”.