Codemasters has secured the exclusive video game rights for Formula 1.

The new licensing agreement allows Codemasters to develop a new generation of games for the Formula 1 franchise across multiple platforms.

And Codemasters is no stranger to racing games. As the creator behind titles such as Colin McRae: DiRT and Race Driver: GRID, its chief executive officer, Rod Cousens, believes it has the expertise in design and development to push the official FIA Formula 1 World Championship game to the next level.

He said: "Formula 1 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".

Chris Deering, chairman of Codemasters said: "Codemasters’ success and recent innovations in the racing game space makes the company more than appropriately tuned for the challenge".

"The combination of Formula 1’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."

The worldwide deal provides Codemasters with rights to feature all Grand Prix circuits, Formula 1 teams, cars, and driver likenesses.

The games will be developed using the evolution of the award-winning Ego Game Technology Engine, Codemasters’ cross-platform middleware technology.

Codemasters expects the first game to launch in 2009.