THQ Nordic acquires the independent developer Black Forest Games GmbH

THQ Nordic is today announcing that the company has acquired 100% of the outstanding shares from the five founders of Black Forest Games GmbH. The development studio was founded 2012 and based on the legacy of Spellbound Entertainment, the company been one of Germany's longest existing independent developers.

Also, an Asset Purchase Agreement with Black Forest Games was concluded to acquire the intellectual properties “Giana Sisters”, “Helldorado” and “Rogue Stormers” amongst other assets, which will be part of the THQ Nordic Portfolio of IPs.

The IP-acquisition itself is being handled by THQ Nordic AB, based in Karlstad, Sweden, whereas the day-to-day business and the share deal is handled by THQ Nordic GmbH, based in Vienna, Austria. THQ Nordic GmbH is taking over 100% of the company including the whole team – for a total cash consideration of EUR 900,000. A potential performance based earnout of EUR 450,000 to the five founders is also an addition. They will stay on board to continue the success story of the 50 people studio.

Lars Wingefors: “We have been working with the folks from Black Forest Games for years now. Their technical skills, accompanied by breath-taking art direction and excellent game design, convinced us even more to take this next step and to acquire this well-managed studio, which will be the largest in-house development studio of THQ Nordic.

Black Forest Games currently working on an unannounced open-world title for PC, PlayStation 4 and Xbox One. More details regarding this project will be revealed soon.

For additional information, please contact:
Lars Wingefors, Group CEO
Tel: +46 708 471 978

About THQ Nordic
THQ Nordic acquires, develops and publishes PC and console games. The company has a wide catalogue of 270 games, including 81 owned franchises, such as Darksiders, Titan Quest, MX vs ATV, Red Faction, Destroy All Humans, Aquanox, ELEX, Jagged Alliance, SpellForce and The Guild.
THQ Nordic has a global publishing reach within marketing, sales and distribution, both online and offline. The group’s head office is based in Karlstad, Sweden and its operational office in Vienna, Austria. THQ Nordic employs and contractually collaborates with more than 470 people and has 5 in-house development studios based in Germany, USA and Sweden. THQ Nordic shares are publicly listed on Nasdaq First North Stockholm under the ticker THQNB:SS with FNCA Sweden AB as its Certified Adviser.
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