Codemasters yesterday announced that it has agreed to take immediate control of Sega's recently-closed Racing Studio, which is based in based in Solihull, central England.

“In seizing this opportunity, we have created additional resources to escalate our plans in the racing segment,” said Rod Cousens, chief executive at Codemasters.

“We hope to welcome more than 40 people to the company and we have enjoyed the full co-operation of our friends at Sega in making this happen.

It is good business for Codemasters, an exciting prospect and there will be more to come as we are not content to stand still.”