Remedy Acquires Rights to Control Game Brand for Maximum Price of 17 Million Euros

Remedy Acquires Rights to Control Game Brand for Maximum Price of 17 Million Euros

Remedy Entertainment has announced a transaction with 505 Games, the details of which reveal a maximum purchase price of 17 million euros.

The renowned video game company, Remedy Entertainment, has stated that they have secured all rights reserved for the Control game brand from 505 Games.

This transaction comes with a maximum purchase price cap of 17 million euros. However, Remedy holds the right to offset any receivables from this purchase price, suggesting that the actual cash flow impact of this transaction will be significantly lower than the stated purchase price.

Remedy has planned to pay the net purchase price in cash, spread across three instalments in the coming twelve months.

Although the transaction won’t have an immediate impact on the income statement, it is expected to open up attractive growth opportunities for Remedy Entertainment in both the medium and long term.

This deal ensures that all publishing, distribution, marketing, and other rights related to Control, codenamed Condor, Control 2 games, and future Control products will be under Remedy’s purview.

However, 505 Games will maintain its role as the publisher of the Control game until the end of the transition period, which is set to conclude on December 31, 2024.