THQ Nordic buys Koch Media for €121m



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Alpha Baymax

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From Gamesindustry.biz: https://www.gamesindustry.biz/articles/2018-02-14-de-blob-publisher-thq-nordic-buys-koch-media-for-121m

"THQ Nordic has agreed to acquire Koch Media in a deal worth €121 million ($149.6 million). The closing of the transaction is expected to happen later today.

The deal includes the entire of the Koch business, including Deep Silver - which publishes titles such as Saints Row, Dead Island and Metro. It means that Saints Row and Metro now both fall back under the THQ banner, alongside other THQ Nordic brands such as De Blob, Darksiders, MX vs ATV, Red Faction and Destroy All Humans.

THQ Nordic was previously known as Nordic Games before changing its name in 2016 following the acquisition of a number of THQ properties.

The surprise acquisition means that THQ Nordic will now also operate Koch's partner publishing business and its film business. Koch also operates three game development studios, namely Volition - best known for Saints Row, Dambuster Studios - best known for Homefront, and Fishlabs - best known for the Galaxy on Fire series.

The firm's release states that Koch Media, which has offices in Germany (where it is headquartered), UK and the US, will continue to operate as a separate entity to THQ Nordic. "No restructuring or cost saving measures are planned," the company noted.

Koch Media CEO Dr. Klemens Kundratitz will remain as CEO of the company and becomes a THQ Nordic shareholder. THQ Nordic is owned and operated by Swedish entrepreneur Lars Wingefors.

Although no changes are planned for now, THQ Nordic believes the larger development and publishing capacity, plus pipeline of products, will offer more flexibility to the group and a more stable business.

"Koch Media has a long history of profitability despite losses incurred from some less successful game releases," says Lars Wingefors, CEO of THQ Nordic.

"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."

Koch CEO Dr. Klemens Kundratitz added: "I strongly believe that THQ Nordic is a great strategic fit with Koch Media. 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.""
 

MATGSY

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Whoever owns Nordic must've been one heck of a THQ fanboy. Probably going after the WWE lisence next.
 

Recon

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Oh wow, this is big. This will be great for THQ Nordic. Hopefully its broadens their range of successful games. I'm still curious to see more about Biomutant.
 
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