Gridlife, the traveling music festival and racing series, has been purchased by a new organization called F=ma, which also owns Racer and The ID Agency. The company aims to maintain the essence of Gridlife while expanding it into a larger entity. F=MA CEO James Schiefer and founder Chris Stewart will remain in their roles as president and chief creative officer of GridLife. F =ma also represents several automotive clients, including Porsche, Bridgestone, and Mobil 1. The new ownership structure offers a sense of security that Gridlife had lacked before.