×
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

  • 'Game of Thrones' Author George R.R.

    'Game of Thrones' Author George R.R. Martin Consults on Video Game

    George R. R. Martin, the famed author of the “Game of Thrones” book series, has consulted on an upcoming video game currently being developed in Japan, this according to a blog post from the author which lays out the work he is now up to in the wake of the HBO television series finale. “I’m [...]

  • PlayStation Team Caught Off Guard By

    PlayStation Team Caught Off Guard By Sony, Microsoft Deal (Report)

    Last week, Sony and Microsoft surprised the gaming community by announcing a strategic partnership where they will work together on cloud technology. Apparently, no one was more shocked than the PlayStation team, who were blindsided by the deal, according to a report by Bloomberg. Negotiations between Sony and Microsoft began last year and were handled [...]

  • Phil Spencer

    Xbox Chief Phil Spencer Outlines Plan to Combat Online Toxicity

    Head of Xbox Phil Spencer outlined new plans to combat toxicity and promote online safety in a post on the Microsoft Blog on Monday. Spencer believes in two fundamental truths about gaming, he said. One, that gaming is for everyone and, two, gaming must promote and protect everyone’s safety. “No one group ‘owns’ gaming,” Spencer [...]

  • Oculus Quest Gets Netflix App, But

    Oculus Quest Will Have Netflix, but Not Plex or HBO

    Facebook’s new Oculus Quest headset is launching with a number of high-profile gaming titles this Tuesday. Media apps on the other hand will take a bit of backseat, with some key players sitting this latest headset out for the time being. First, the good news for anyone who has pre-ordered the headset: One of the [...]

  • Sony Interactive Launches Film, TV Studio

    Sony Interactive Launches Film, TV Studio to Adapt Video Game Projects

    Sony Interactive recently launched PlayStation Productions, a studio tasked with adapting the company’s video game properties into films and television shows, according to The Hollywood Reporter. PlayStation Productions is headed by Asad Qizilbash and overseen by SIE chairman of Worldwide Studios Shawn Layden. It’s reportedly already working on its first slate of projects on the [...]

  • Watch YouTuber Play VR Game 'Apex

    Watch YouTuber Play VR Game 'Apex Construct' on a Football Field

    “Apex Construct” developer Fast Travel Games recently teamed up with YouTube content creator Jugon Virtual to show off the virtual reality adventure game’s motion mechanic on a large football field. Using the standalone Ocululs Quest headset and body motion exclusively to navigate the game world, Virtual covered a total area of 6050m2 while playing, Fast [...]

  • Double Fine's Apocalyptic Rogue-Like 'Rad' Coming

    Double Fine's Apocalyptic Rogue-Like 'Rad' Coming August 20

    Double Fine Productions’ upcoming 3D rogue-like “Rad” is coming to Xbox One, PlayStation 4, Nintendo Switch, and PC on August 20, the developer announced Monday. Set in a post-post apocalyptic world in which humanity has faced the end of the world twice over, players take on the role of a teen protagonist who is forced [...]

More From Our Brands

Access exclusive content