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THQ Nordic acquires Piranha Bytes

LESS T_T

Arcane
Joined
Oct 5, 2012
Messages
13,582
Codex 2014
http://www.thqnordic-investors.com/en/news/?releaseId=3312836

THQ Nordic acquires legendary game studio Piranha Bytes

THQ Nordic AB (publ) is today announcing the acquisition of the assets belonging to the group of companies doing business as Piranha Bytes (“Piranha”). Piranha is the developer behind the critically acclaimed game series Gothic ®, Risen® and ELEX® and is a long-term developing partner to THQ Nordic. Through the acquisition THQ Nordic adds a strong portfolio of existing intellectual properties (IPs) and an exciting new game pipeline.

The acquisition includes the development studio and all IP rights. The parties have agreed upon not disclosing the purchase price. However, the purchase price equals c. three years of what management’s estimated royalty payments to Piranha for upcoming titles would have been, if the acquisition had not occurred.

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”, says Lars Wingefors, Group-CEO THQ Nordic AB (publ).

Piranha, which was founded in 1997, is best known for its successful development of action role-playing PC/Console games with atmospheric open worlds. The current version of Piranha was formed in 2002 when the current owners acquired the studio. The studio is located in Essen, Germany, with approximately 31 full time employees.

Both THQ Nordic and Koch Media have a long-standing relationship with Piranha with both having acted as the studio’s publisher for all three major titles. The original relationship with Piranha was established in 2002. Piranha will remain an independent game development studio under the newly formed entity Piranha Bytes GmbH. As in the past, the team will focus and concentrate on the creation of outstanding and unique RPG gaming experiences, having full creative freedom in doing so, whereas THQ Nordic GmbH will act as Piranha Bytes´ publisher, responsible for distribution, marketing and further support. Piranha will continue to be led by CEO Michael Rüve and Head of Games Björn Pankratz. All active owners will remain in their current roles.

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”, says Michael Rüve, CEO Piranha Bytes.

Background and rationale

THQ Nordic has a clear growth strategy and a long and successful history of acquiring game franchises and development studios. The acquisition of Piranha builds upon THQ Nordic’s strong footprint in Germany with a renowned studio, along with commercially established titles, which is in line with the long-term growth strategy.

THQ Nordic will support the future growth of Piranha and strongly believes that the studio has an excellent opportunity to build further upon its existing titles as well as to create new IP based on Piranha’s unique proprietary game engine and decades of experience in their niche.

Financing of the transaction

The purchase price will be paid in cash at closing and financed through the existing cash position. The transaction is subject to the shareholders’ resolution of selling entities.

Advisers

Ernst & Young AB is providing transaction support and the German based law firm Jaroni Pracht Riegl Schröter is acting as legal counsels to THQ Nordic in the transaction.

For additional information, please contact:
Lars Wingefors, Group-CEO
Tel: +46 708 47 19 78
E-mail: lwingefors@thqnordic.com

About THQ Nordic

THQ Nordic develops and publishes PC and console games for the global games market. The company has an extensive catalogue of over 100 owned franchises, such as Saints Row, Goat Simulator, Dead Island, Darksiders, Metro (exclusive license), Titan Quest, MX vs ATV, Kingdoms of Amalur, Time Splitters, Delta Force, Alone in the Dark, Wreckfestamongst others. THQ Nordic has a global presence, with its group head office located in Karlstad, Sweden and with three divisions; Deep Silver/Koch Media, THQ Nordic/Handy Games and Coffee Stain. The group has sixteen internal game development studios based in Germany, Finland, the United Kingdom, the United States and Sweden. The group has collectively more then 2,200 employees and contractors.

THQ Nordic's shares are publicly listed on Nasdaq First North Stockholm under the ticker THQN B with FNCA Sweden AB as its Certified Adviser. For more information, please visit: http://www.thqnordic-investors.com.

Forward-looking statements
This press release contains forward-looking statements that reflect the Company's intentions, beliefs, or current expectations about and targets for the Company's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither the Company nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release.

It owns euro RPG.
 

ManaJunkie

Arbiter
Joined
Feb 15, 2018
Messages
281
skeleton.jpg
 

SniperHF

Arcane
Joined
Aug 22, 2014
Messages
1,110
The amount of actually independent rpg studios (with actual noteworthy releases) is getting pretty low. Need a new crop with some good ideas.
 

Optimist

Savant
Patron
Joined
Jun 18, 2018
Messages
337
My team has the sexiest and deadliest waifus you can recruit.
THQ Nordic (JoWood) made Gothic 2 and Gothic 2 Nacht of the Raven

Yeah, but given too much leeway they had G3: Forsaken Gods produced.

I'll remain cautiously optimistic, though. PB has three recognizable brands under their belt this time; they can lend JoWood the rights to Risen (as they previously did with Gothic) to finance their passion projects.
 

ADL

Prophet
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Messages
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I'm cautiously optimistic. THQ Nordic is notoriously hands off and they've been a good publisher in the time they've been around. This knee jerk reaction when they're the ones that published ELEX is really, really dumb.

Now they can make games without having to worry about paying the rent. This is a good thing.
 
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Infinitron

I post news
Staff Member
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Codex Year of the Donut Serpent in the Staglands Dead State Divinity: Original Sin Project: Eternity Torment: Tides of Numenera Wasteland 2 Shadorwun: Hong Kong Divinity: Original Sin 2 A Beautifully Desolate Campaign Pillars of Eternity 2: Deadfire Pathfinder: Kingmaker Pathfinder: Wrath I'm very into cock and ball torture I helped put crap in Monomyth
LESS T_T There's another press release going around: https://www.thqnordic.com/index.php/article/piranha-bytes-acquired-thq-nordic

Piranha Bytes acquired by THQ Nordic
May 22, 2019

Piranha Bytes will become a 100% subsidiary of THQ Nordic GmbH in Vienna, Austria

All Piranha Bytes Masterpieces – Gothic®, Risen® and ELEX® - are now part of the THQ Nordic Group Portfolio.

Vienna/AUSTRIA, Essen/GERMANY, May 22nd, 2019 - THQ Nordic today announced that the acquisition of the Piranha Bytes team and trademark and the intellectual property Gothic has been finalised. Piranha Bytes' rights to Risen and ELEXwere also acquired.

“Geography has made us neighbors. History has made us friends. Economics has made us partners. And necessity has made us allies. Those whom nature hath so joined together, let no man put asunder.” John F. Kennedy (1961)

Although statements like the following should not be done within the context of a press release, we still do it:

All of us here at THQ Nordic welcome every single member of the Piranha Bytes team to our family. We already had our fair share of laughter (well, every time we meet in person), fun (conventions, Christmas- and Summer parties, or karaoke singing), tears (when the wrong person hits the karaoke stage), and sweat (Batman cosplay @Gamescom 2018 comes to mind) together, and from now on it is in an officially joint capacity as well. The closing of the transaction is subject to the approvals of the committees of Piranha Bytes.

The newly formed entity (Piranha Bytes GmbH, Essen, Germany) will host the entire development team and is a 100% subsidiary of THQ Nordic GmbH, based in Vienna, Austria. As in the past, the team will focus and concentrate on the creation of outstanding and unique RPG gaming experiences, having full creative freedom in doing so, whereas THQ Nordic GmbH will act as Piranha Bytes' publisher, responsible for distribution, marketing and further support.

“There are situations in life where you think to yourself “This feels right.” Well, this is exactly one of them. We have been working on some great and exciting things over the past couple of years and we are extremely stoked about what the future brings with the right partner and the right network of companies”, says Björn Pankratz, Project Director and Game Designer of Piranha Bytes. “After all, we want to continue to create great, memorable, and impactful games with as much creative freedom as possible, and with THQ Nordic we know we are now part of a family, which supports us by all means in our efforts.”


FAQ

Employees/Staff
Q: Will there be any changes in personnel at Piranha Bytes (PB)?
A: No.

Q: Will PB change location and move to Vienna?
A: No, what happens in Ruhrpott, stays in Ruhrpott.

Company/legal technicalities
Q: What is the deal, why is there a new company being incorporated?
A: Technically speaking, Pluto 13 GmbH (the former company behind the Piranha Bytes brand) sold the trademarks “Piranha Bytes” and “Gothic” as well as the entire Gothic IP to THQ Nordic AB. The remaining rights of Risen and ELEX, which were in other entities of the Piranha Bytes folks, were also acquired by THQ Nordic AB. In the forefront of the closing of this deal, THQ Nordic GmbH set up a new entity (initially named “THQ Nordic Reserve 1 GmbH”; in the next days renamed to “Piranha Bytes GmbH”). This company is now stepping into the existing employment and service agreements with all personnel and has also acquired the existing office equipment (furniture, hardware, coffee machine).

Intellectual Properties
Q: What about ELEX 2?
A: Semi-official comment: Have a guess.

Q: What does this mean for potential remakes of Gothic and/or Risen?
A: Nothing to say at this stage.
 
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BEvers

I'm forever blowing
Joined
Aug 14, 2018
Messages
808
The official story has been that PB had the Gothic IP and acknowledged there was huge fan interest in Gothic 4, but they didn't think they could make a top-quality sequel. Now both the studio and IP are owned by a company that's notorious for churning out sequels no matter what.

:philosoraptor:
 

Belegarsson

Think about hairy dwarfs all the time ( ͡° ͜ʖ ͡°)
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Steve gets a Kidney but I don't even get a tag.
Wait why does codex suddenly see this news as negative? Wasn't the news about THQ Nordic acquiring Expeditions IP received well?
 

whydoibother

Arcane
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Codex Year of the Donut
Wait why does codex suddenly see this news as negative? Wasn't the news about THQ Nordic acquiring Expeditions IP received well?
My opinion on such acquisitions changed from making analogies about Rome uniting Europe etc nonsense to thinking about Disney acquiring IPs to milk them in the last few years.
I used to think about a publisher getting a good selection of developers as a good thing, because money goes straight to ideas and shit gets done. Now I am more cynical about it. The Mouse literally changed how I perceive reality.
 

Mark Richard

Arcane
Joined
Mar 14, 2016
Messages
1,192
Wait why does codex suddenly see this news as negative? Wasn't the news about THQ Nordic acquiring Expeditions IP received well?
I'm not keen on the idea of one publisher owning all the good RPGs, otherwise known as the non-American RPGs.
 

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