By Adam Clark

Codemasters Group Holdings PLC (CDM.LN) shares rose on Tuesday after the company said it has entered a videogame-development agreement with China-based technology company Netease Inc. (NTES).

The U.K. videogame developer said it will work with Netease on a new mobile game, receiving a minimum of $8 million in revenue over the next three years.

Codemasters said it will receive $4 million in revenue for its current year to March 31, boosting its adjusted earnings before interest, tax, depreciation and amortization ahead of current expectations.

Shares at 0808 GMT were up 17.50 pence, or 11%, at 179 pence.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

January 08, 2019 03:28 ET (08:28 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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