×
You will be redirected back to your article in seconds

THQ Nordic Raises 2.09 Billion SEK to Finance New Acquisitions

Video game publisher THQ Nordic recently raised 2.09 billion Swedish Krona (about $223 million USD) that will go toward expanding its ever-increasing portfolio, it announced on Thursday.

The company issued 11 million Class B shares and said it plans to use the proceeds to “finance new acquisitions of franchises, game development studios, or other assets which complement the operations, and to enable a higher rate of investment in the development of the company.”

THQ Nordic has been extremely busy over the last few years. It has at least 55 games in development and another 35 projects unannounced, it said in November. It’s also acquired a large number of studios and intellectual properties, including “Kingdom Come: Deliverance” studio Warhorse and “Wreckfest” developer Bugbear Entertainment. It’s picked up the “Kingdoms of Amalur” IP and assets from the now-defunct 38 Studios. It now also owns a number of classic IPs like Atari’s survival horror franchise “Alone in the Dark,” the 1999 action-adventure “Outcast,” and the first-person shooter franchise “TimeSplitters.”

In a statement to GamesIndustry.biz, THQ Nordic CEO Lars Wingefors said he wants all of his companies to be financed through the cashflow from making great games. “However, our strategy right now is to build something substantial, diversified and evergreen through acquisitions and substantial organic development growth,” he said. “As you know, we are just approx 0.5% of the global market and have a long way to go before we reach the next level.”

“By not using aggressive debt, like loans and bonds, as many others [companies do], we put all stakeholders in the same boat. It also creates a safer, long-term environment for all our great employees and business partners that don’t have to worry about our balance sheet for the next paycheck.”

More Gaming

  • 'Red Dead Online' Spring Update Will

    'Red Dead Online' Spring Update Will Add Hostility System, Play Styles

    “Red Dead Online” is getting a big update this spring with some new features, developer Rockstar Games announced on Tuesday. “Alongside incorporating player feedback and addressing existing issues, the beta period has allowed us to lay the groundwork for the more advanced aspects of ‘Red Dead Online’ still to come,” it said in a post [...]

  • Anthem

    BioWare Says 'Anthem' Launch Was Rougher Than Expected

    BioWare general manager Casey Hudson is assuring “Anthem” players that the team is working hard to improve the online game after its rocky launch last month. “Anthem” released worldwide on Feb. 22 and received very mixed reviews from critics. Variety’s own Dan Solberg called it a “disjointed and clunky experience where the contact high of [...]

  • Jade Raymond to Lead Google's New

    Jade Raymond to Lead Google's New First-Party Game Development Studio

    Long-time video game producer Jade Raymond will lead Google’s new first-party development studio, called Stadia Games and Entertainment, the company announced during the Game Developers Conference on Tuesday. The studio will create games for Google’s new streaming service Stadia, which promises seamless 60 FPS and 1080p resolution on any device running a Chrome browser. Game [...]

  • 'Doom Eternal' Coming to Google's New

    'Doom Eternal' Coming to Google's New Stadia Service

    Id Software’s upcoming action sequel “Doom Eternal” is coming to Google’s new game streaming service called Stadia, the two companies announced during the Game Developers Conference in San Francisco on Tuesday. Google’s Stadia promises seamless 60 FPS and 1080p gameplay on any device with a Chrome browser, including tablets, phones, laptops, and televisions (via a [...]

  • Google Unveils Its New Stadia Controller

    Google Unveils Its New Stadia Controller

    Google officially unveiled its new video game streaming service Stadia during the Game Developers Conference in San Francisco on Tuesday, along with a new controller. Where other wireless game controllers typically use Bluetooth, the Stadia Controller uses Wi-Fi to connect directly to a game running in Google’s data center. It can identify which screen or [...]

  • The Struggles of South African Indie

    The Struggles of South African Indie Game Development

    Breaking into the game industry is a daunting endeavor. Often times independent solo developers feel isolated from everyone else and their perception of how things work is easily shaped by public discourse and their own expectations. Breaking into the industry from South Africa is even tougher since you’re an entire continent away from the main [...]

  • Google Stream Detailed, Named Stadia

    Google's Stadia Aims to Turn Any Screen Into a Powerful Gaming Console

    Stadia is Google’s game streaming service that is designed to let you play high-end games on most modern screens — be they phone, laptop, tablet, computer or TV — with very little download time and no loss of fidelity, the company announced Tuesday at the Game Developers Conference. The service is launching in 2019. Cost [...]

More From Our Brands

Access exclusive content