Case study: Codemasters

Investment advice for a leading games company

The Pinsent Masons team has advised Codemasters, the leading developer and publisher of critically acclaimed computer and video games, on securing a significant investment from Benchmark Capital Europe, the top-tier venture capital firm.

Codemasters is the largest privately owned video games publisher in Europe, it has a successful track record with more than 60 number one hits and a distribution network covering over 70 countries worldwide. Its major video game brands include Colin McRae Rally™, Brian Lara Cricket™, TOCA/DTM/V8 Race Driver™ and LMA Manager™.

Pinsent Masons has been working with Codemasters since early February 2005 in order to secure this investment – Benchmark Capital has taken a 40% share in Codemasters.

The investment by Benchmark will be used to accelerate Codemasters' programme of new game development, target new distribution formats, strengthen the company's sales and marketing activities and for acquiring third party licenses and game titles. Additionally, Codemasters will continue its expansion into new territories for its international publishing operations.

Dave Wilson, Chief Finance Officer at Codemasters said:

"Pinsent Masons' strong track record of M&A and private equity experience in the computer games market as well as their dedicated team of specialists working on development, licensing and distribution contracts for games sector clients were invaluable during this process.

"By securing this investment we are able to bring forward our expansion plans, both nationally and internationally."

See: Codemasters