Innovative solution for Landgate building Preferred proponent selected for Landgate building Problem and Opportunity Statement Local businesses to be engaged for major refurbishment projectState Government commits to retaining a public sector presence in Midland The McGowan Government today appointed Georgiou Capital Pty Ltd as the preferred proponent for the Landgate building Problem and Opportunity Statement and will now progress with detailed due-diligence and final negotiations.The Problem and Opportunity Statement called for innovative solutions for the future of the Landgate building in Midland plus accommodation options for more than 500 public sector staff in the local area.Under the proposal, the Landgate building, which reverts to government ownership in March 2021, will be sold to Georgiou Capital Pty Ltd with the State receiving the proceeds from the sale.Georgiou Capital Pty Ltd will then undertake an extensive refurbishment of the asset, creating around 370 new jobs across a range of industries including construction, design and engineering, prioritising the use of local businesses, where possible.The McGowan Government’s commitment to retaining a public sector presence in the Midland region will see Landgate remain as a tenant in the building.Following the refurbishment, the building will also be available to accommodate a range of other government and commercial tenants through an innovative co-working concept proposed by Georgiou Capital Pty Ltd.The Landgate Problem and Opportunity Statement is part of an initiative launched under the Market-led Proposals policy, allowing government to provide focused opportunities for industry to respond with innovative solutions that stimulate the economy and create jobs for Western Australians.As stated by Finance and Lands Minister Ben Wyatt:“This proposal clearly demonstrates our Government’s commitment to helping industry and business succeed through a clear, consistent and transparent process.“This is a tremendous outcome with the State to receive the proceeds from the sale as well as over 500 public sector staff remaining in Midland.“The McGowan Government is working hard to recover jobs lost during the pandemic, as well as creating thousands more through innovative proposals like this to stimulate the economy.As stated by Midland MLA Michelle Roberts:“This is an opportunity to reinvigorate the traditional heart of the Midland town centre.“It highlights our Government’s commitment to maintaining Landgate’s presence in Midland.“Once again, the McGowan Government is bringing employment and investment opportunities into Midland and the eastern suburbs.” /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, building, business, Economy, employment, Engineering, finance, future, Government, heart, industry, Investment, jobs, Minister, project, Western Australia
Codemasters buys Slightly Mad Studios for $30mProject CARS studio will join the UK publisher in a deal that could rise by $67m based on three-year earnout clauseMatthew HandrahanEditor-in-ChiefThursday 28th November 2019Share this article Recommend Tweet ShareCompanies in this articleCodemastersSlightly Mad StudiosCodemasters has acquired Project CARS developer Slightly Mad Studios for a $30 million upfront fee.The acquisition will bring Slightly Mad’s racing expertise into the Codemasters organisation, which is also a well established specialist in the genre. The entirety of Slightly Mad’s 150-person team will make the transition as part of the deal.The UK publisher will pay $30 million (£23.3 million) upfront — $25 million in cash, and $5 million in stock — but an earnout clause based on Slightly Mad’s EBITDA over a three-year period that could take the value higher. A spokesperson briefed GamesIndustry.biz that the maximum earnout is $166 million (£128.9 million), but the financial analyst Liberum expects the actual amount to be approximately £52.6 million ($67.9 million).Frank Sagnier, Codemasters“Codemasters’ acquisition of SMS will create a global leader in the racing genre,” said Codemasters CEO Frank Sagnier. “Their focus on AAAquality and the passion that they put into everything they create mirrors our own. Both companies have a number of world renowned, successful franchises along with exciting product development pipelines, supported by leading IP and some of the best talent in the gaming industry.”The enlarged Codemasters will have greater scale and reach, diversified, predictable revenue streams and the opportunity to bring outstanding entertainment to a far wider audience. We welcome Ian and his team to the Codemasters family and can’t wait to start working together to create the future generation of racing franchises.”Codemasters has been making racing games virtually since its inception in 1986, while the London-based Slightly Mad Studios was founded in 2009. However, in its ten years in business, Slightly Mad has established itself as one of the industry’s leading racing developers, with the critically acclaimed titles Project CARS in 2015 and Project CARS 2 in 2017.Related JobsSenior Game Designer – UE4 – AAA United Kingdom Amiqus GamesProgrammer – REMOTE – work with industry veterans! North West Amiqus GamesJunior Video Editor – GLOBAL publisher United Kingdom Amiqus GamesDiscover more jobs in games Codemasters also noted that Slightly Mad has three projects in development: a new mobile game, Project CARS Go; a game based on “a Hollywood blockbuster movie franchise,” which is rumoured to be based on the Fast & Furious series; and a third title based on Slightly Mad’s own IP.The $5 million in stock will be payable to Slightly Mad Studios when it launches the game based on a blockbuster movie franchise in the next financial year. Codemasters will raise £20 million to help finance the deal through a new share placing, at a price of £2.10 per share. However, it expects its earnings per share to rise 30% as a result of the acquisition in the first full year of ownership.Celebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The Publishing & Retail newsletter and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore storiesCodemasters shareholders approve EA’s $1.2bn acquisitionDeal will be sanctioned in court on February 16By James Batchelor 3 months agoEA sees “huge potential” in racing following Codemasters acquisitionBut with the deal still to be approved, execs say it’s too early to discuss plans for live services or regular releasesBy James Batchelor 3 months agoLatest comments Sign in to contributeEmail addressPasswordSign in Need an account? Register now.