UK developer Codemasters, known for its racing pedigree, is reportedly getting ready for an IPO on the London Stock Exchange, according to Sky News. The move is being led by Codemasters' majority owners since 2013, Reliance Big Entertainment Limited, which is connected to a massive Indian conglomerate.
Sky confirmed that Codemasters is still "loss-making, making it difficult to assess its likely value as a public company, although one City source said it was likely to be worth in excess of £100m."
Codemasters has had a turbulent decade with layoffs, plenty of ups and downs and rumors of a business in trouble, but back in February chief game designer Paul Coleman told us that things at the company were better than they've ever been.
He commented, "I joined Codemasters in 2003, and we were making big games then, don't get me wrong, but there was still a small company mentality to it. When the Darling brothers sold the company, we went big and then had to shrink back down again. That has happened a few times. But this feels like we are in a much stronger position. The products that we are making are much more focused and are of a higher quality... The vibe is much better now, and it feels like it's all coming together. There is that sense that we are going places as a company. Whereas before we had lost that."
It's been a busy year for Codemasters, with releases including F1 2017, Dirt 4, Dirt Rally VR, and Micro Machines. And in 2016 the company also picked up the bulk of Evolution Studios after Sony shuttered that racing studio. Codemasters dates back to 1985 when Richard and David Darling founded the company, but they sold their stakes in 2007.
Codemasters has yet to comment on the IPO report.