Bollywood billionaire swoops on Codemasters
AN INDIAN billionaire said to be the world’s fourth richest man, has taken a 50% stake in Leamington computer games firm Codemasters.
Anil Ambani is worth $29bn (£19bn). He is chairman of Reliance Industries. His empire spans textile production and oil exploration to a sports marketing business in India.
The deal, to be announced early this week, will see Reliance take joint control of Codemasters with Balderton Capital, the venture capital firm.
Codemasters, which was started in a barn by two brothers, Richard and David Darling in 1986, is best known for creating the Colin McRae series and The Lord of the Rings online game.
Balderton and Goldman Sachs bought out the brothers in 2007 and have invested almost £100m in the business between them. Reliance acquired the stake by buying a chunk of the company’s debt from Goldman and other smaller investors.
Codemasters employs 450 people in Birmingham, Guildford and Southam, near Leamington Spa. and has had recent success with its Formula 1 and Ashes Cricket titles. In 2008, the company reported earnings of £7.9m on sales of £105m.
