Paradox Interactive acquires 33% of Seattle based Hardsuit Labs
Paradox Interactive today announced it has acquired 33% of development studio Hardsuit Labs, based in Seattle, for 2M USD. Paradox has an option to increase its ownership in the future.
Hardsuit Labs was founded in 2015 by a team of games development veterans with a long industry track record, including founders Andy Kipling and Russell Nelson. Hardsuit Labs is currently working on an as-yet unannounced title, to be published by Paradox Interactive in the future. More details on the team, including their earlier productions, can be found here: https://www.hardsuitlabs.com/about/
“We are continuously looking for partners suited to join our journey onwards. We have much confidence in the team built by Hardsuit Labs and their capacity to create great games,” said Fredrik Wester, CEO of Paradox Interactive. “Since this is a minority acquisition, Paradox will act more like a silent partner and the studio will continue to operate like it has been previously. The reason for this acquisition is to increase our own capacity to manage our portfolio of brands in a strategic way, together with a studio and studio management we believe in.”
For additional information, please contact:
Fredrik Wester, CEO Paradox Interactive
Andras Vajlok, CFO Paradox Interactive
Phone: +4670-355 54 89
About Paradox Interactive
The Paradox Interactive group includes publishing and internal development of games and licensing of White Wolf’s brands. The publishing operation publishes both internally developed titles and titles developed by independent studios as well as music and books. The game portfolio includes more than 90 titles and Paradox Interactive owns the most important brands, including Stellaris, Europa Universalis, Hearts of Iron, Crusader Kings, Cities: Skylines, Tyranny and Magicka. From the start over ten years ago, the company has published its games all over the world, initially through physical distribution using partners, but beginning in 2006 has primarily distributed digitally using its own publishing arm. The development platform is primarily PC, but the company has released games on console and mobile platforms as well. The largest markets today include the US, UK, Germany, France, Russia and Scandinavia. Today, close to 1.5 million gamers play a Paradox game each month and the number of Paradox registered users exceeds six million.
Paradox Interactive AB (publ)’s shares are listed on Nasdaq Stockholm First North Premier under ticker PDX. FNCA Sweden AB is the company’s Certified Adviser. For more information, please visit www.paradoxinteractive.com.