They're well chuffed with themselves, the license gives them full access to race circuits, the teams and their drivers’ likenesses.
Formula One games have had a two year absence and now they'll be "the jewel in Codemasters’ racing crown" says CEO Rod Cousens.
Previously the Formula One games have been tied to the PlayStation but Codemasters are keen to fully capitalize on their new license, they'll be touching all consoles, handhelds and the PC - they'll use Codemasters' EGO Game Technology Engine.
"As a world-leading creator of driving games, this alliance with Formula One is the jewel in Codemasters’ racing crown and creates an undisputed segment champion," said Rod Cousens, Codemasters CEO.
"Formula One has gone with the best, the segment leader. It has gone to the home of the EGO Engine for quality; it has gone to the company that can host Formula 1 Online, to the company that is streaking away from the pack."