odemasters is no stranger to the world of racing video games. With titles such as Colin McRae: Dirt and Race Driver: Grid under their belt, they have proven themselves leaders within the racing genre. The developer / publisher can now add another racing entity to their list, as they have officially picked up the Formula One License effective today. In a worldwide agreement with Formula One Administration Limited, Codemasters received the rights to exclusively develop Formula One for home consoles, handheld devices and PC gaming formats.  The deal gives Codemasters the rights to feature all Formula One teams, cars, circuits and driver likenesses.

“Formula One is ambitious in expanding its reach with more circuits planned beyond recent additions in the Middle East and China. It is also ambitious in expanding its reach via technology. The digital communities that computer and video gaming creates will play a key role in further growing the Formula One audience and connecting them globally,” said Rod Cousens, chief executive officer, Codemasters.

“Codemasters’ success and recent innovations in the racing game space makes the company more than appropriately tuned for the challenge,” said Chris Deering, chairman, Codemasters. “The combination of Formula One’s new momentum of expansion and Codemasters’ contemporary technology and past experience is the breaking of a new dawn for the sport, on the track and on the HD game screen.”

Codemasters expects their first official Formula One title to launch in 2009.