Reliance Big Entertainment has acquired a 50% stake in British video game developer and publisher Codemasters.

Reliance will co-own the company with existing investor Balderton Capital, the European venture capital firm that first invested in Codemasters in 2005.

The Indian giant’s gaming division, Zapak Digital Entertainment Ltd, which sources familiar with the deal described as the largest gaming company on the sub-continent, will oversee the investment.

Codemasters has annual revenues in excess of $150m and owns major franchises in cricket games (The Ashes), racing games (Formula 1, Dirt2and Race Driver Grid), performance games (Dance Factory), and military simulations (Operation Flashpoint 2).

“We are excited to partner with Codemasters and believe its very strong technology, development and distribution presence will complement our global gaming portfolio,” Zapak CEO Rohit Sharma said. “Additionally, Zapak’s global strength in mobile gaming will enhance Codemasters’ ability to fully leverage its attractive franchises such as its racing and cricket games.”

“Reliance and Zapak have immense resources and will help us realise the full potential of our game coding and online excellence across so many platforms, and especially in the world’s fastest growing markets,” Codemasters chief executive Rod Cousens said.