Remedy Entertainment signs two multi-platform publishing deals
Remedy Entertainment Plc | Insider information 9:00 am (EET) 26 March 2020
Remedy Entertainment signs two multi-platform publishing deals
Remedy Entertainment, developer of multiple “Game of the Year” award winner Control, has signed publishing agreements with a major publisher for the company’s next two unannounced video games. The agreements specify that the publisher will fully fund game development costs and that Remedy is entitled to a 50% share of the net revenue from the games’ sales. Remedy also retains the ownership of the games’ intellectual property.
The first project is an AAA multi-platform game already in pre-production and previously referred to as the “unannounced third project”. The second is a new smaller-scale project set in the same franchise. Both projects are being developed on Remedy’s proprietary Northlight game engine and tools.
More details regarding the partnership between Remedy and the publisher will be announced later today by a press release. The partnership extends Remedy’s strategy of creating and developing its own IP’s into long-term franchises. Both games will be launched on next generation console platforms and PC in the next few years.
Remedy’s financial outlook and guidance remain unchanged. The company estimates its revenue and operating profit to increase during 2020. Majority of the revenue and operating profit growth is expected to materialize during the second half-year period.
MORE INFORMATION
Tero Virtala, CEO
Phone: +358 9 435 5040
Email: tero.virtala@remedygames.com
Lauri Haavisto, Senior Manager, Investor & Talent Relations
Phone: +358 9 435 5040
Email: lauri@remedygames.com
Alexander Corporate Finance Oy, Certified Adviser
Phone: +358 50 520 4098
ABOUT REMEDY
Remedy Entertainment Plc is a globally successful video game company known for story-driven and visually stunning console and computer games such as Control, Alan Wake and Max Payne. Remedy also develops its own Northlight game engine and game development tools. Founded and based in 1995, Finland, the company employs over 260 game industry professionals from 27 different countries. Remedy is listed on the Nasdaq First North Growth Market Finland marketplace. For more information: www.remedygames.com