THQ Nordic acquires game development studios Coffee Stain and Bugbear

THQ NordicTHQ Nordic has acquired both Coffee Stain Studios, developers of Deep Rock Galactic, A Story About My Uncle, and the Satisfactory, and Bugbear Entertainment, who created Flatout and Wreckfest. The terms of the transaction were not disclosed.

Lars Wingefors, CEO of THQ Nordic, said, “We are creating a complementary digital native pillar to THQ Nordic. Coffee Stain is a passionate and highly competent team creating and publishing great games. After some years without major releases, the pipeline of new game releases such as Satisfactory and Deep Rock Galactic look strong. I look forward to working together with Anton Westbergh and his team in the future.”

THQ Nordic now has a sizeable array of studios and IPs, with over 55 games in active development.

Austria, Vienna, Sweden, Skövde & Finland, Helsinki

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Keywords Studios acquires The TrailerFarm

keywordsKeywords Studios, a services provider to the video games industry, has acquired Brighton, UK based The TrailerFarm Ltd

Founded in 2011 by brothers Tony and Dan Porter, TrailerFarm’s team of 12 creative produce trailers for both mobile and console/PC games for use in game launches and ongoing promotional events. In 2018 Keywords acquired Fire Without Smoke which also provides marketing services and produces trailers. 

 In the year ending 30 June 2018, TrailerFarm posted revenues of £1 million and adjusted EBITDA of £165K.  Keywords is paying a total consideration of up to £2 million. The initial consideration of £1 million is made up of £790k in cash and 11,070 new ordinary shares in Keywords, which are to be issued to the sellers on the first anniversary of the acquisition. The remaining consideration of up to £1m is payable in cash, subject to the increase in profit before tax of TrailerFarm over the 12 month period post acquisition.

 Andrew Day, CEO of Keywords Studios commented, “I’m delighted to welcome Scott and his team into the Keywords family. As games become ever more immersive, sound design quality is getting ever closer to that of movies. Our new Sound Lab studio, created around Scott and his team, will be integrated within the Keywords Audio Services Line and will benefit accordingly from our global network of studios and our extensive video game client base around the world.  

Ireland, Dublin & UK, Brighton

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THQ Nordic acquires Timesplitters

THQ NordicTHQ Nordic has acquired the video game trilogy Timesplitters from owner Crytek GmbH. The terms of the transaction were not disclosed.

Timesplitters was largely considered as one of the most influential console games of the early 2000’s. The three game series earned a large and passionate fan base thanks to its unique humour, art style and pop culture references while encouraging customization and modification to give each person their own individual experience. Timesplitters was originally created by the development studio Free Radical Design that later become Deep Silver Dambuster, part of the THQ Nordic group.

In addition to Timesplitters, the IP and the rights to science fiction action-adventure game Second Sight were acquired. Both acquisitions were made through THQ Nordic’s fully owned subsidiary Koch Media GmbH, which they acquired in February 2018.

Austria, Vienna & Germany, Frankfurt

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Sumo Group acquires The Chinese Room for £2.2M

Sumo GroupSumo Group, the award-winning provider of creative and development services to the video games and entertainment industries, has acquired The Chinese Room from founders Dan Pinchbeck and Jessica Curry for £2.2 million, of which £1.6 million in cash, with the remaining £0.6 million paid through the issue of new shares in Sumo.

As an award-winning independent game developer, The Chinese Room is best known for creating the innovative games ‘Dear Esther’, ‘Amnesia: A Machine for Pigs’, the genre-defining ‘Everybody’s Gone to the Rapture’ and Google Daydream exclusive ‘So Let Us Melt’.

Dan will take the role of Creative Director of The Chinese Room, while Jessica will continue her career independently as a composer.

The Chinese Room will operate as part of Sumo Digital, becoming its fifth studio and fourth in the UK. Sumo Group intends to invest in The Chinese Room and continue development of current projects by building its team and collaborating with other Sumo Digital studios.

Carl Cavers, CEO of Sumo Group, said, “I am really pleased that Dan has chosen to join Sumo Group. We believe Dan’s renowned creative abilities will add real value to Sumo Group. The Chinese Room has an outstanding reputation and its acquisition will enhance and extend Sumo Digital’s capabilities. Having a studio in the south of England opens new doors for the Group and we are confident that it will create exciting opportunities.

This acquisition follows the addition of the studio in Newcastle, formerly CCP Games, in January this year, and the Nottingham studio that opened in 2016.

UK, Sheffield & Brighton

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Keywords Studios acquires Snowed In Studios for $4M (CAD)

keywordsKeywords Studios, the international creative and technical services provider to the global video games industry, has acquired Snowed In Studios Inc. from its current owners, Jean-Sylvain Sormany, Tim Vito and Evan Hahn, for up to $4 million Canadian dollars.

Founded in 2010 and based in Ottawa, Canada, Snowed In offers engineering and co-development services to the video-games industry and has a strong global reputation and well-established relationships with clients such as Ubisoft, Nickelodeon and Bethesda. The company has 29 employees all working in-house in its office in Ottawa led by the current owners, who will remain with Snowed In to drive its growth as part of Keywords.

Andrew Day, CEO of Keywords Studios, said, “The addition of Snowed In to the Group will add strength and scale to our recently established engineering service line and enable Snowed In to take advantage of the group’s very strong presence in the region to support its growth. Having grown the engineering service line from nothing in May 2017, we now employ over 300 software engineers in multiple regions, and I’m delighted that Jean-Sylvain, Tim, Evan and their highly talented and creative team are joining the group as we continue to grow.”

Ireland, Dublin & Canada, Ottawa

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THQ Nordic acquires German game developer and publisher HandyGames

THQ NordicTHQ Nordic has acquired the game developer and publisher HandyGames, headquartered in Giebelstadt, Germany.

THQ Nordic GmbH is acquiring 100% of the shares for a total cash consideration of 1 million euro. In addition, the parties have agreed a potential performance based earnout of up to 1.5 million euro.

Founded in 2000, HandyGames has released more than 150 games on a multitude of platforms, using a wide range of technologies. Current game development is focused on iOS, Android, Oculus Rift, Samsung Gear VR, HTC Vive, tablet computers, Android TV, Wearables as well as digital-only releases on next generation consoles. The company currently has about 50 employees.

HandyGames will continue operating as a developer and publisher for value-priced projects under the management of THQ Nordic GmbH in Vienna.

THQ Nordic MD Klemens Kreuzer said, “It is a true win-win situation for all parties involved, as HandyGames perfectly complements the setup of the rest of our group as the new ‘go to’-publisher for small- and mid-sized developers and projects and will benefit from our network and infrastructure in return. In joining forces with HandyGames, THQ Nordic is tapping into the VR Games segment, and gains access to one of Europe’s most powerful mobile games distribution network”.

Austria, Vienna & Germany, Geibelstadt

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Electronic Arts acquires Industrial Toys

Electronic ArtsElectronic Arts Inc. has acquired Industrial Toys, a creative team of experienced game makers based in Pasadena, California. Led by Alex Seropian, founder and former CEO of Bungie Studios and former executive at Disney Interactive, the team is known for developing unique game ideas on different devices, and they join EA with a continued focus on bringing new game concepts to life. The terms of the transaction were not disclosed.

The 14-person Industrial Toys studio is joining EA’s Worldwide Studios organisation, the global creative collective responsible for development of EA titles across all major platforms.

Samantha Ryan, SVP and Group GM in EA’s Worldwide Studios group said, “Creating breakthrough games takes passionate developers and incredible creativity, and each time we’ve worked with the Industrial Toys team, we’ve been inspired by their unique approach. We’re thrilled to have them join our studio organisation, pursue new ideas together and bring amazing new games to our players.”

USA, Redwood, CA & Pasadena, CA

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