Codemasters Plans IPO
British publisher Codemasters plans a public stock offering.
Codemasters, an England-based game publisher, has announced plans to go public at the end of 2007 or in the first quarter of 2008. The IPO is part of a three-year plan to rejuvenate the company; the plan also includes reaching global revenues of $250 million in the next year and a half.
Rod Cousens, CEO, explained the company's strategy to British game publication MCV. "We have powerful distribution in North America thanks to the Warners deal and layers of distribution all around the world. We also have a new portfolio of titles suited well to the global market. ... We are a third of the way through the exercise, but with a return to profit, distribution improved and our portfolio taking shape nicely, we can really start to look forward."