THQ Nordic has acquired Piranha Bytes, the developers of games such as ELEX. In a press release, THQ Nordic confirmed that that the purchase had gone through and while the price will not be disclosed, it is equal to “…three years of what management’s estimated royalty payments to Piranha for upcoming titles would have been, if the acquisition had not occurred.”

These companies have a history together, as THQ Nordic has published all of Piranha Bytes’ previous games. Piranha Bytes is a German studio with 31 full-time employees.

The CEOs of both companies provided comments:

Lars Wingefors, Group-CEO of THQ Nordic AB, said that “Piranha Bytes is one of the most iconic German game studios and the creators of RPG´s Gothic, Risen and, more recently, ELEX. The three strong IPs have proven successful and will be great additions to our portfolio. We look forward bringing Piranha team into the family which has received legendary status across the RPG community as their fanbase cherishes their current games and eagerly anticipates their new titles in the future.”

Michael Rüve, CEO of Piranha Bytes, commented that “We have a successful and long-standing relationship with THQ Nordic and are very excited to join the group. THQ Nordic has unparalleled experience and capabilities in games development and publishing, and we are convinced they are the perfect partner to support Piranha in taking the studio to the next level. We see a unique opportunity to continue to develop great, memorable and impactful RPG games, now being part of the THQ Nordic family.

THQ Nordic has been on a massive acquisition spree over the last year and a half, acquiring groups, studios and IPs such as Koch Media, the Kingdoms of Amalur IP, Bugbear Entertainment, Coffee Stain Studios and Warhorse Studios.

Recently, THQ Nordic held an AMA (ask-me-anything) on 8chan, which went about as well as you’d think.