Nordisk Film, one of the oldest movie studios in the world, purchased Avalanche Studios (“Just Cause,” “Mad Max,” “theHunter”) in the single largest acquisition in the company’s 111-year history, the companies announced this week.
The deal, which has Nordisk purchasing the remaining shares of Avalanche for 89 million Euro, is part of Nordisk’s strategy of investing in successful Nordic game studios, according to a statement.
“We have been minority owners of Avalanche Studios for a year, and are already impressed by their results,” Mikkel Weider, managing director at Nordisk Film Games, said in a statement. “During its 15 years in business, Avalanche Studios has built a world-class team and created a unique company culture that perfectly matches our own values. It also has a unique foundational technology, exciting new titles in development and a strong IP in the ‘theHunter’ franchise.”
The deal will not impact how Avalanche Studios operates, who manages it or any of its on-going development deals, which includes the company’s current work on Bethesda Softworks’ upcoming shooter “Rage 2.”
Avalanche Studios was founded in 2003 by Christofer Sundberg and Linus Blomberg. It currently has more than 320 developers in its offices in New York City, and Stockholm and Malmo, Sweden.
“We have had a fantastic year with Nordisk Film as part of Avalanche Studios,” Pim Holfve, CEO of Avalanche Studios, said in a statement. “We’ve grown and matured at a pace which was previously not possible. Even though we’ll continue to operate as an independent studio, Nordisk Film will — with a century of experience from growing creative businesses – provide us with a more solid foundation. I could not be happier to have them onboard.”
The deal will be finalized by the end of June. Nordisk Film also has invested in Flashbulb Games, Reto Moto and other Nordic game studios.