Simplify the following text for a Grade 8 native English-speaking person.
Original: The company was founded as a British racing internal combustion engine maker in 1958 by Mike Costin and Keith Duckworth ( 1933-2005 ) ( COStin and duckWORTH ) .
Simplified: The company was founded as a British racing internal combustion engine maker in 1958 by Mike Costin and Keith Duckworth ( 1933-2005 ) The name Cosworth came by combining their last names . ( COStin and duckWORTH ) .