THQ Nordic has announced the complete acquisition of Koch Media and its Deep Silver and Volition subsidiaries, giving it full control of the Saints Row, Dead Island, and Metro franchises.
Born from the ashes of THQ, split up in 2013 and sold off to various buyers, when Nordic Games took over the name, THQ Nordic has been on something of a spending spree of late. Last year the company announced the acquisition of Novalogic intellectual property, and now it's made its biggest deal yet: the acquisition of Koch Media and its wholly-owned subsidiary Deep Silver and that subsidiary's subsidiary Volition - which was once, in a lovely closing of the circle, a THQ subsidiary - for €121 million in cash.
'Koch Media has a long history of profitability despite losses incurred from some less successful game releases,' says THQ Nordic chief executive Lars Wingefors of the deal. 'THQ Nordic is convinced that the development studios of Deep Silver as part of THQ Nordic will successfully deliver at least four ongoing AAA game projects including Metro Exodus as well as the next Volition Studio AAA release and the next Dambuster Studio AAA release, together with a number of other game development and publishing titles.'
'I strongly believe that THQ Nordic is a great strategic fit with Koch Media,' adds Koch Media chief executive Dr. Kelems Kundratitz. 'In addition to having long experience within games development and publishing, THQ Nordic has the skills, willingness and capital to deliver growth in the future.'
The deal gives THQ Nordic control of a number of popular franchises, including the Saints Row and Dead Island franchises plus an exclusive licence for the Metro franchise. In total, THQ gains 15 IPs and 14 game development projects, of which nine are so-far unannounced, to add to its existing 91 IPs and 36 game projects. The combined company will have 36 development studios and a total headcount of 1,643.
February 26 2021 | 22:15