THQ Nordic is about to expand even more. Thanks to an official announcement we’ve learned that THQ Nordic has acquired Bugbear Entertainment and Coffee Stain Studios.
Here’s an overview of THQ Nordic acquiring Bugbear Entertainment:
THQ Nordic AB is today announcing that it has acquired 90 percent of the shares in Bugbear Entertainment Ltd. (“Bugbear”) with an option to acquire the remaining 10 percent in the future. Bugbear, a Helsinki-based independent studio with 18 team members developing racing games, is currently working on the critically acclaimed Wreckfest. The acquisition includes the development studio and all intellectual property rights.
THQ Nordic values Bugbear as an experienced and world leading creator of niche racing games built on their proprietary game engine enabled with vehicle destruction physics tools. Wreckfest, a demolition derby themed racing title, was successfully released for PC in June 2018 and is currently being further developed to be released on PlayStation 4 and Xbox One during 2019. Bugbear is also well known for the critically acclaimed demolition derby series FlatOut, released for PC and consoles during 2004 to 2007.
Here’s an overview of THQ Nordic acquiring Coffee Stain Studios:
THQ Nordic AB today has entered into agreement to acquire Coffee Stain Holding AB including 100 percent of its subsidiary Coffee Stain Publishing AB. Coffee Stain is a leading game developer and publisher with a growing footprint in the Nordics. The acquisition includes Intellectual property rights to Satisfactory, Goat Simulator, and Sanctum, and publishing rights to Deep Rock Galactic. The initial cash consideration is equivalent to SEK 317 million on a cash and debt free basis, plus additional earn-out considerations subject to fulfillment of agreed milestones. THQ Nordic estimates Coffee Stain will have net sales in the range of SEK 200-250 million and EBT in the range of SEK 100 to 150 million in the next financial year.
You can read more about the acquisitions here and here.
THQ Nordic has been on a buying spree throughout 2018, purchasing studios and publishers such as Koch Media, while grabbing IPs left and right such as Kingdoms of Amalur, Alone in the Dark and Timesplitters. The next big game from THQ Nordic is Darksiders III, which will release on November 27th, 2018 for Xbox One, PC and PlayStation 4.
