×
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.”

Popular on Variety

More Gaming

  • Call of Duty Modern Warfare

    Call of Duty League Commissioner on Why It's Time for a Franchise Model

    “Call of Duty” esports is officially headed for a city-based model. Publisher Activision Blizzard announced over the summer that the newly coined Call of Duty League will have a franchised, home-and-away structure immediately when it launches its inaugural season in early 2020. It’s set 12 teams in 11 cities, and the roster mania has already [...]

  • Nintendo Switch

    Nintendo Switch Unit Sales Top 15 Million in North America Since Launch

    Nintendo is tooting its own horn, boasting that the Nintendo Switch and Nintendo Switch Lite systems have together sold over 15 million units in North America to date. That’s according to the company’s own internal data. As of July, the Nintendo Switch had sold over 36 million consoles worldwide, the company said. Nintendo Switch carries [...]

  • Star Wars Jedi Fallen Order

    'Star Wars Jedi: Fallen Order': Respawn CEO on Telling the Story Behind 'Becoming a Jedi'

    When it comes to media properties, it doesn’t get much bigger than “Star Wars.” That sentiment certainly isn’t lost on Vince Zampella, CEO of Respawn Entertainment, the studio behind “Star Wars Jedi: Fallen Order.” The title, which follows Jedi Padawan Cal Kestis (voiced by Cameron Monaghan) after the events of “Episode III — Revenge of [...]

  • Star Wars Jedi Fallen Order

    'Star Wars Jedi: Fallen Order': What to Expect From EA and Respawn's Latest

    There’s a lot riding on “Star Wars Jedi: Fallen Order.” The upcoming title from EA and Respawn is the first major single-player “Star Wars” video game since 2008’s “The Force Unleashed,” and is one of the most anticipated games of 2019. After years of multiplayer adventures, could “Fallen Order” be the title that brings the [...]

  • Google Stadia Game Streaming Service Launching

    Google’s Stadia Game Streaming Service Will Launch Nov. 19

    Google hardware chief Rick Osterloh gave us an update on the company’s game streaming service Stadia during the company’s fall hardware event in New York Tuesday: Stadia will be available to the public on Nov. 19. Stadia promises to stream games directly from the cloud, with no need to buy a full-blown game console. Consumers [...]

  • Fortnite Chapter 2

    'Fortnite' Emerges From Black Hole With All-New Island in Chapter 2

    After its previous world was sucked into a black hole, “Fortnite” is back — with an all-new island featuring a map with 13 different locations. The latest installment of the free-to-play battle royale game, which publisher Epic Games calls the first season of “Fortnite” Chapter 2, went live early Tuesday at around 6 a.m. ET. [...]

  • Fortnite-Season-X-Out-of-Time

    'Fortnite' Goes Dark: A Masterful Marketing Stroke by Epic Games

    On Sunday, “Fortnite” — the most popular game on Earth right now — without warning, imploded into darkness. At around 2 p.m. ET on Oct. 13, a meteor in Season 10 of “Fortnite” that had been biding its time set off a cataclysmic chain reaction that sucked up everything on the the island and eventually [...]

More From Our Brands

Access exclusive content