Frontier acquires Elite rights as Braben readies share sale

MCV Staff 17th April 2014 Business News

David Braben is to sell up to 1.6m shares in Frontier Developments following the buyout of an IT firm which holds the rights to the Elite franchise he co-created.

Frontier purchased software and IT consultancy Professional Practice Automation in a 5.09m deal on Tuesday, April 15th. Braben, CEO of Frontier, became a member of PPA in early 2014, according to a notice about the buyout on the company’s homepage.

Along with company assets, Frontier stands to acquire the royalty rights to the Elite video game franchise, currently held by PPA. Braben assigned these rights to the company in June 2008 in return for a royalty based on Frontier’s profits from the Elite franchise.

Develop has more details.

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