The Rise and Fall of Embracer (aka THQ Nordic)

[Life of the Party]

 

[Siveon]

Despite the silly nature of this announcement a lot of people thought this was a genuinely good 3D platformer, and they're taking effort to restore cut content and have it running on all platforms.

I don't care too much about it but this was one of the more popular THQ games so I can see this as a good idea overall.

 

[deuxhero]

Indeed, SR 2 was absolutely huge but the shooting was pretty lackluster and really not challenging, the shooting on SR 3 is MUCH better so I had more fun with it despite the massive decline on content, did the modders fix that on SR 2? SR 3 shooting with the content of SR 2 would be a dream game, Volition should have focused on that instead of that terrible game they did.

Nah, SR3's shooting sucks. In 2 you have a decent amount of health but very slow regeneration. In 3 you have low health (without upgrades) and very high regeneration rate (especially after upgrades). 2 encourages avoiding damage, tactical retreats and allows use of food (which takes time, just not nearly as much as waiting for regeneration to kick in) in emergencies. 3 is just popamole since you need to use regeneration to stand a chance.

3's upgrade system further hurts this. You can, and practically have to, upgrade weapon damage. Problem is this takes a lot of money and is tied to a specific weapon, even though missions keep shuffling your inventory around so you lose your upgraded gun for something you haven't improved. This means everything is a bullet sponge.

One small thing that helped 2's combat a lot is that enemy AI didn't unflinchingly fire when you were right next to their ally, and didn't immediately acquire targets as soon as they saw them. This made it viable to run up to enemies and engage them in melee.

 

[CyberModuled]

Oh hell yeah!



(Also a Darksiders isometric hack and slash announced yesterday).

 

[Abu Antar]

 

[Drakron]

All EGS exclusives.

 

[Belegarsson]

It's been nearly 2 years since Biomutant's initial announcement, finger crossed for release this year/early 2020

 

[Paul_cz]

All EGS exclusives.

Doubtful - THQ Nordic has yet to make one.
Deep Silver however, which is owned by THQ AB is in bed with Epic - but Deep Silver is operated independently.

 

[Latelistener]

What's going on with Aquanox game anyway?

 

[LESS T_T]

THQ Nordic registered domains related to Comanche, NovaLogic's military helicopter sim series:
comanchegame.com
comanchegame.info
comanchegame.org

Maybe this is one of three non-playble secret games teased in the Gamescom trailer (1:11).

 

[LESS T_T]

Buy everything

http://www.thqnordic-investors.com/en/news/?releaseId=3384184

THQ Nordic acquires Gunfire Games – the studio behind the Darksiders series

THQ Nordic AB's ("THQ Nordic") wholly owned subsidiary THQ Nordic GmbH has entered into an agreement to acquire Gunfire Games, LLC (“Gunfire”) in Austin, Texas. Gunfire is the developer behind the critically acclaimed game series Darksiders®, Chronos® and From Other Suns® and is a long-term developing partner of THQ Nordic. Through the acquisition THQ Nordic adds a strong team of RPG experts and award-winning VR developers with an existing intellectual property (IP) portfolio and an exciting new game pipeline.

The acquisition includes the development studio that includes a team of 63 creative and technical game developers and all IP rights. The purchase price will not be disclosed. THQ Nordic expects to recoup its investment over the course of 3-4 years as current development projects are released.

“With the acquisition of Gunfire Games we are strengthening THQ Nordic’s footprint in the US and are adding an experienced and talented development team that we know very well from having collaborated on Darksiders. Gunfire will contribute with premier development expertise to the group with realizable synergies from day one. It is with great anticipation of future projects we now welcome the team to the THQ Nordic family”, says Lars Wingefors, Group CEO THQ Nordic AB.

Gunfire, which was founded in 2014 by alumni developers of Vigil Games, is best known for its successful development of action role-playing PC/Console game series Darksiders for THQ Nordic along with Chronos that was awarded Game Informer’s VR Game of The Year. The core team based in Austin, Texas (USA) has worked together for over a decade creating successful games, and are now 70 full time employees.

THQ Nordic teamed up with Gunfire in 2015 with the publishing of Darksiders II: Deathinitive Edition and subsequently with the release of Darksiders III in 2018. Gunfire will remain an independent development studio under THQ Nordic GmbH in Vienna, Austria. The team will continue to create outstanding and unique action adventure games and online/co-op experiences playable on PC/console and VR with full creative freedom and maintained relationships with current publishing partners. Gunfire will continue to be led by CEO David Adams and all active founders will remain in their current roles.

“Having worked together on the development of Darksiders, we are confident that becoming part of THQ Nordic is a great next step for Gunfire. I believe that the experience and publishing capabilities of THQ Nordic will be important in supporting our growth journey and enabling us to continue doing what we love – making great games. We are excited to continue working together going forward.”, says David Adams, CEO Gunfire Games.

Background and rationale

The acquisition of Gunfire strengthens THQ Nordic’s footprint in the US and represents THQ Nordic’s first owned studio in Austin, Texas, the third largest game industry hub in the US. This is in line with THQ Nordic’s long-term growth strategy of acquiring game franchises and development studios.

Gunfire has an excellent opportunity to build further on decades of experience in their niche and continue developing successful IP. THQ Nordic will support the future growth of Gunfire and help the team execute on an exciting pipeline with the release of “Remnant - From the ashes” debuting in August 2019.

Financing of the transaction

The cash part of the purchase price is financed through THQ Nordic’s existing cash position. The transaction is not subject to any further resolution or approval and will be completed as of August 14th, 2019.

http://www.thqnordic-investors.com/en/news/?releaseId=3384207

THQ Nordic acquires Goodbye Kansas Game Invest

THQ Nordic AB has acquired Goodbye Kansas Game Invest AB (“GKGI”) through its wholly owned subsidiary THQ Nordic Lager 1 AB. The favourable purchase price of SEK 42.4m on a cash and debt free basis is notably below the capital invested by GKGI in its platform and the portfolio companies. Through the acquisition THQ Nordic strengthens its platform for minority investments in promising development studios.

The acquisition includes a portfolio of minority investments in five early-stage development studios; Palindrome Interactive, Fall Damage, Neon Giant, Kavalri and Framebunker as well as royalty rights to THQ Nordic’s upcoming game Biomutant. GKGI’s previous investments in IGDB, Bearded Dragons and Goodbye Kansas VR will be retained in Goodbye Kansas AB.

“Goodbye Kansas Game Invest is led by a skilled team with strong insights and experience in developing and growing gaming companies. Besides continuing to support the current portfolio, the transaction provides a great platform for strategic investments in early-stage companies as well as in established teams starting their own development studios”, says Lars Wingefors, Group-CEO THQ Nordic AB.

GKGI was founded in 2016 as an investment company focusing purely on gaming companies under the umbrella of Goodbye Kansas AB. GKGI is managed by a senior team of four gaming executives with a collective industry experience of +45 years that have a broad network and extensive knowledge in the Nordic gaming ecosystem.

GKGI’s investment strategy entails making minority investments in early-stage Nordic gaming companies and supporting their growth journey. The current investment portfolio encompasses an attractive selection of development studios with promising potential.

“The Nordic countries have positioned themselves among the most successful gaming communities in the world and we strongly believe in their continued potential. We are looking forward to partner up with THQ Nordic who share our passion for the gaming industry.”, says Per-Arne Lundberg, CEO Goodbye Kansas Game Invest.

“Goodbye Kansas AB has made a strategic decision to divest Goodbye Kansas Game Invest AB in order to focus on our core business within Studio and Infinite Entertainment. I am satisfied that the new home to Game Invest is THQ Nordic, a company we know well and who we are confident will develop Game Invest further”, says Peter Levin, CEO and founder of Goodbye Kansas AB.

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 GKGI launches a new platform for THQ Nordic to make investments in early-stage companies and in established teams starting their own development studios. THQ Nordic will add value not only by capital and competence but also offering publishing and knowledge sharing within the wider THQ Nordic group.

Financing of the transaction

The purchase price is paid in cash and financed through THQ Nordic’s existing cash position. The transaction is not subject to any further resolution or approval and was completed as of 12 August 2019.

https://news.cision.com/thq-nordic-ab/r/thq-nordic-acquires-milestone-s-r-l-,c2880621

THQ Nordic acquires Milestone s.r.l.
WED, AUG 14, 2019 06:30 CET

THQ Nordic AB's indirectly wholly owned subsidiary Koch Media GmbH has today entered into an agreement to acquire Milan-based Milestone s.r.l., a leading racing games developer and publisher behind successful game series such as MotoGP, MXGP, RIDE and Monster Energy Supercross. The upfront purchase price is equivalent to 44.9 MEUR on a cash and debt free basis, plus additional earn-out considerations subject to fulfilment of agreed future profitability target. THQ Nordic estimates Milestone to have net revenues in the range of 27.5-32.25 MEUR, EBITDA of 15.5-18.0 MEUR and Operating EBIT of 10.75-12.5 MEUR in its next financial year ending June 2020.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, WITHIN OR TO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES.

”Milestone has developed racing games for 25 years now and is leading the two-wheel racing game genre today. With 50 developed games since inception, 8 million copies sold since 2013 and five games under development I am convinced that Milestone will see continued success in the future. I am thrilled to welcome Luisa and her experienced team to the THQ Nordic group", says Lars Wingefors, CEO of THQ Nordic AB.

The transaction in brief

• THQ Nordic AB ("THQ Nordic" or the "Company") acquires 100 percent of the shares in Milestone s.r.l. ("Milestone") through its indirectly wholly owned subsidiary Koch Media GmbH ("Koch Media").
• The upfront purchase price amounts to 55.8 MEUR, corresponding to an Enterprise Value of 44.9 MEUR on a cash and debt free basis. The upfront purchase price is financed through the Company’s current cash balance and newly issued B shares in THQ Nordic.
• An additional earn-out consideration based on accumulated adjusted EBIT[1] during FY20-22[2] (“Adj. EBIT”) is attributable to the seller. If Milestone reaches its targeted adj. EBIT of 39.6 MEUR, then 28.9 MEUR becomes payable. If Milestone falls below 70 percent of the targeted adj. EBIT, no earn-out applies. If Milestone achieves above 130 percent, i.e. 51.5 MEUR of the adj. EBIT, then 37.6 MEUR becomes payable, i.e. the maximum earn-out. The earn-out is part paid in cash and part in THQ Nordic B shares[3].
• The total purchase price including earn-out based on targeted adjusted EBIT amounts to 84.7 MEUR, equivalent to an Enterprise Value of 73.8 MEUR.
• For the period July 2018 – June 2019, Milestone generated net revenues of 28.2 MEUR, EBITDA of 15.0 MEUR and EBIT of 9.31 MEUR.[4]
• For the period July 2019 – June 2020, THQ Nordic estimates Milestone to generate net revenues in the range of 27.5-32.25 MEUR, 15.5-18.0 MEUR of EBITDA and 10.75-12.5 MEUR of Operating EBIT. The growth and improved profitability are mainly related to expected continued increase in the share of digital sales and the release of three upcoming titles.
• Closing of the transaction is expected to take place later today, i.e. on August 14, 2019, and all conditions for completion will therefore be fulfilled.

“As one of the leading companies in the racing games industry, we have assembled an experienced team and a large and growing portfolio of titles that we believe will fit perfectly with, and benefit from, THQ Nordic’s network of development studios and publishing capabilities. We are very happy to become part of THQ Nordic and look forward to continuing our growth journey together” says Luisa Bixio, CEO Milestone.

Background and rationale

Spoiler

On August 14, 2019, Koch Media entered into an agreement with the seller of Milestone to acquire 100 percent of the shares in Milestone.

Milestone is a leading racing games developer and publisher behind the global success series MotoGP, MXGP, RIDE and Monster Energy Supercross. The studio was originally founded in 1994 as Graffiti, renamed Milestone in 1996 and in 2013 transitioned from being a pure work-for-hire studio into publishing all its products in-house and initiated development of own IP. Milestone has grown to employ approximately 200 people today and has built up an impressive track record of 50 developed games - many considered epoch-defining within the two-wheel racing games genre. Since 2013, Milestone has sold 8 million copies and received notable awards.

Milestone’s passionate team creates hyper-realistic racing games, which perfectly positions them to catch on to the growing global eSport trend. To continue operating at the forefront of racing games development and offer gamers high-quality games, Milestone has developed a brand-new proprietary AI system based on neuron networks and machine learning, thereby taking user experience to new heights.

Milestone’s portfolio consists of several successful and globally renowned racing game series and has created an attractive business model involving yearly/bi-yearly game releases, supported by a large loyal player base, generating revenues of recurring nature. With five current games under development Milestone has a fully-stacked pipeline based on major portfolio titles and development of new IP.

Koch Media has acted as distribution partner for Milestone’s products on several European markets since 2014. Following completion, Milestone will continue to act as an independent entity under Koch Media, benefitting from joining Koch Media’s development studio network and being able to utilize its strong distribution and publishing capabilities.

Milestone is today led by sole owner Luisa Bixio, who has been with the studio for 10+ years and will after completion continue to lead Milestone as its CEO.

http://www.thqnordic-investors.com/en/regulatory-press-releases/?releaseId=3384166

LOOKING AHEAD

I am excited about the way that we are positioned in this dynamic industry. In particular we have a strong pipeline of games in development at Deep Silver, THQ Nordic and Coffee Stain.

Our investments into our upcoming pipeline of releases from Deep Silver, THQ Nordic and Coffee Stain grew to a record SEK 356 million in the quarter as compared to SEK 208 million last year. This will drive the organic growth of our Games business areas over the coming years. Looking ahead we expect to have at least two major AAA-releases during the next financial year ending March 31, 2021. In total we have 81 games under development whereof 47 were still unannounced by end of the quarter.

I’m happy to share some new updates from some of our biggest studios at Deep Silver;

 > Volition is deep in development of a brand-new Saints Row game, the first full entry in this much loved series since Saints Row IV was released in 2013.

 > We have entrusted Dambuster Studios with the Dead Island franchise, bringing the development of this key franchise to one of our internal studios. They are now leading the development of Dead Island 2.

 > Fishlabs is working on a new IP, as well as a number of unannounced projects. We’re excited to see Fishlabs grow as a major talent within our internal studio system.

 > Last year Deep Silver acquired the much-loved TimeSplitters IP. We’re delighted to announce that one of the series’ creators, Steve Ellis, has joined us to help plot the future course for this franchise.

THQ Nordic announced three new titles, SpongeBob – Battle for Bikini Bottom, Destroy all Humans! and Darksiders Genesis, at this year’s Electronic Entertainment Expo (E3). All three titles were well received. I’m happy that this will bring new content to the gaming community based on some of the most beloved properties from the THQ Inc portfolio.

Coffee Stain had a well-received announcement of the two upcoming PC titles, the turn-based classic adventure Songs of Conquest developed by Lavapotion in Gothenburg and the ghostly hide-and-seek multiplayer game Midnight Ghost Hunt developed by Vaulted Sky Games.

We continue to execute on our M&A strategy by carrying out extensive scouting, research and proactive engagement. The pipeline of suitable companies to join our family is growing – both within each operating group – as well as candidates to become a new operating group under the Parent Company.

We have a solid game release schedule and many marketing activities ahead – most notably Gamescom that will take place next week. Again, I would like to send my thanks to all of our customers, colleagues, and business partners for contributing to the prosperity and success of our family. We are now close to 2,500 people that daily make it all happen.

I’m looking forward to our most exciting years ever ahead of us. I hope to see you soon, all the best regards from all of us at the head office in Värmland.

 

[deuxhero]

A shame Dambuster Studios is doing DI2 instead of Timesplitters Remaster right away. Nice to see new Saints Row confirmed, though this is a really weird way to announce one of their more major titles, and "deep in" implies more than the very early production "yeah we're working on a new one" type announcements normally indicate. Maybe it will be properly announced at Gamescom?

Edit: For those wondering, Milestone s.r.l. made a bunch of racing games, mostly bike based. Been doing it a crazy long time too. Literally made some for DOS long time.

 

[SpaceWizardz]

Isn't Saints Row one of their biggest IPs? Why such an unceremonious announcement?
Crazy that they built E3 Hype for a Spongebob game yet this doesn't get more than a footnote.

 

[Modron]

The Saint's Row IP isn't the most well regarded thing these days after 2 dlcs stretched into full games Saints' Row 4 and Gat out of Hell and then that it's not really saints row Agents of Mayhem flopping hard fiasco, but it as you say the publishers should be hyping the hell out of it for sure.

 

[RNGsus]

Isn't Saints Row one of their biggest IPs? Why such an unceremonious announcement?
Crazy that they built E3 Hype for a Spongebob game yet this doesn't get more than a footnote.

Spongebob's age appropriate for the average chucklecuck attending E3.

 

[LESS T_T]

I think this kind of quite "announcement" is a legitimated way of (pre-?)hyping, in addition to serving as a message to investors, when you're not ready to actually show the game. It's kind of like whispering marketing.

(Also FYI, Tony Evans, ex-Obsidian designer and lead on Storm of Zehir, is working at Volition as Design Director.)

 

[Azalin]

I wonder how long it will for all of this to implode,you can't just go around throwing money away buying everything without some consequences in the end

 

[vortex]

Can they buy Bethesda ?

 

[thesecret1]

Isn't Saints Row one of their biggest IPs? Why such an unceremonious announcement?
Crazy that they built E3 Hype for a Spongebob game yet this doesn't get more than a footnote.

AFAIK Battle for Bikini Bottom was a good platformer, and the remake resonates well with nostalgiatards. Saw actual hype for this in several places, so maybe the move isn't so strange after all. Spongebob might simply be a more important IP than Saint's Row (especially after the last two games in the series).

 

[LESS T_T]

The holding company THQ Nordic AB to change its name to Embracer Group, to avoid confusion with the publisher THQ Nordic GmbH: http://www.thqnordic-investors.com/en/news/?releaseId=3384530

Embrace all the IPs

THQ Nordic becomes Embracer Group to clarify group structure and strategy

THQ Nordic AB today presents the Board of Directors’ proposal to change the name of the parent company THQ Nordic AB (publ) to Embracer Group AB (publ). The strategic rationale behind the proposal is to clarify the group structure and strategy with the Parent Company as a holding company.

The Group currently has three wholly owned operative groups: Koch Media/Deep Silver, Coffee Stain and THQ Nordic GmbH – all that will remain unchanged.

The proposed name change to Embracer Group AB (publ) is subject to approval at the AGM September 17. New website and visual identity will be launched on the same date.

 

[Paul_cz]

LOL that's a hilariously fitting name

I really hope Wingefors is in this for long haul and is shrewed enough not to fuck it up, because it would be nice to see at least one big publisher not be total fucktards

 

[LESS T_T]

Another domains registered...

bethesovereign.com
knights-ofhonor.com
knightsofhonor2.com
knightsofhonorgame.com
sovgame.com
ofhonorgame.com

All related to recently announced Knights of Honor II, so nothing too interesting (except ofhonorgame.com which implies franchise development).

But they also registered domain for WorldShift, 2008 sci-fi RTS by Black Sea (developer of Knights of Honor).

worldshiftgame.com

Makes wonder if they going to buy Black Sea Games too.


Also domains by Koch Media/Deep Silver.

saintsrowfive.com
saintsrowsix.com
saintsrowonline.com
time-splitters.com

Are they going to do something like GTA Online?

 

[Morgoth]

In case somebody is wondering: Aquanox Deep Descent is not dead.

https://www.thqnordic.com/article/aquanox-deep-descent-august-2019-update

Aquanox Deep Descent August 2019 Update
August 27, 2019
Hello Everyone,

As we are sure you noticed, the development of Aquanox took quite a bit longer than we originally expected. We spent an enormous amount of time working on Aquanox, and it was a wild ride, chock full of surprises and challenges. At last, we are really happy to say that that the game is ready, and will be released in the next three months.

We apologize for not properly communicating the many changes that presented themselves throughout development. We were laser focused on adding new content and polishing the game, and it often eclipsed our focus on making sure that everyone was kept up to date. For that, we are truly sorry.

We’d like to shed some light regarding what we accomplished in the past several months. To start, we collected your feedback, along with the feedback from focus testers, and with that, established the main areas of improvement.

• It’s now possible to play and finish the entire game in co-op mode
• We implemented a system which allows better communication of the combat challenges with the players. This ensures the Aquanauts are aware the the challenges they will face.
• The ship classes in the game have been re-balanced so that they stand out in a more noticeable way from one another. We felt the initial differences were simply not enough. This includes The Recon, The Combat, and The Siege classes.
• The overall speed of various ships has been adjusted in order to create an interesting, fun, and unique experience while driving them throughout the Aqua world.
• We’ve spent a lot of time polishing and reworking large parts of the game world in order to make them more visually interesting. We did this by adding points of interest, caves to explore, and wrecks to salvage. The game world is now bigger, and more interesting for our players to explore!
• We added variations to weapons by expanding the existing weapon classes. This includes EMP or Nanplankton field generators to further expand the arsenal the player has at his or her disposal. Now there are three times as many ways to destroy your enemies!
• New exploration options have been added, including the options to salvage, or gather loot that has been scattered throughout the game world. We adjusted the balance so that those who spend time searching for shipwrecks or other things to salvage will have a more comfortable life than those who don’t. Aqua life is harsh!
• Most of the SFX and VFX has been reworked as part of our polish pass, so that the game presents itself better, both visually and audibly.
• A large part of the UI has been reworked to make it clearer, more readable, and easier to handle.
• We added a lot of new Flora and Fauna, which includes a lot of polishing to our Nanofauna encounters

There are still several things we would like to address and fix, meaning we aren’t quite done working on the game yet. We will plan to further improve the game with a Day 1 patch.

Once again, we apologize for the recent lack of communication. We are planning correct it over the next several weeks.

We appreciate your patience throughout this process and your ongoing support,

The Aquanox Deep Descent Team

 

[LESS T_T]

New domain is Gothic related:

gothicthegame.com

Also by Koch Media/Deep Silver, seemingly two unannounced things:

gods-will-fall.com
godswillfall.com
thewindbound.com
windboundgame.com

 

[LESS T_T]

Further steps to establish global distribution:

THQ Nordic kicks off operations in Japan
October 21, 2019

THQ Nordic expanding to 日本 (Japan)

Konnichiwa, THQ Nordic Japan KK (株式会社/kabushiki kaisha) Vienna, AUSTRIA, Tokyo, JAPAN, October 21 2019 – THQ Nordic Japan KK has officially been incorporated. The tasks and responsibilities of the newly formed entity are distribution, PR, and marketing of THQ Nordic’s and HandyGames’ slate of games in the Japanese market.

“In our opinion, the only real way to truly embrace (pun intended) the Japanese market is to run it with a team of Japanese professionals, which was our approach for the new Japanese subsidiary. A warm, heartfelt welcome to the entire team based in Tokyo, Japan” comments Klemens Kreuzer, Managing Director at THQ Nordic GmbH. “Good things come to those who wait and we took our time to realize it with the best setup possible.”

“At this point, I would like to quote Persona 3: “Two in Harmony Surpasses One in Perfection”.Our team is prepared, honoured and absolutely ready to kickstart THQ Nordic’s operations on the Japanese market”, comments Yuji Kato, Managing Director of THQ Nordic Japan KK. “We are honoured that we were given this opportunity and can not wait to bring THQ Nordic content to our Japanese audience.”

The Japanese entity is THQ Nordic´s second international distribution outlet, apart from the 2012 established, US based distribution company, THQ Nordic Inc.

The Japanese team consists of key people that delivered more than 200 titles in 15 years to the Japanese market, ranging from feature phones to consoles:

Yuji Kato - Managing Director Nearly 20 years of game industry experience Former programmer

Junko Kato – Manager Former editor Former programmer, mainly QA and project management

Hiroshi Ogawa – Project Management Former programmer Networking and exhibitions management

Quoting Persona 3 while announcing Japanese subsidiary