The gaming company THQ Nordic AB's subsidiary Koch Media GmbH has entered into an agreement to acquire Milan-based Milestone s.r.l., a leading racing games developer and publisher behind 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 an additional earn-out consideration subject to fulfilment of agreed future profitability targets. Part of the purchase price is paid in newly issued B-shares in THQ Nordic.
THQ Nordic AB has also via its subsidiary THQ Nordic GmbH entered into an agreement to acquire Gunfire Games, LLC in Austin, Texas. Gunfire is the developer behind the game series Darksiders®, Chronos® and From Other Suns® and is a long-term development partner of THQ Nordic. The acquisition of Gunfire strengthens THQ Nordic’s footprint in the US and represents THQ Nordic’s first owned studio in Austin, Texas. The purchase price has not been disclosed.
The acquisitions are in line with THQ Nordic’s long-term growth strategy of acquiring game franchises and development studios.
Baker McKenzie acts as legal counsel to THQ Nordic in both transactions. Baker McKenzie’s team consists mainly of Joakim Falkner, Anna Orlander and Ian Gulam from Baker McKenzie’s office in Stockholm, Rodolfo La Rosa and Luigi Rizzo from the Rome office and Roger Bivans and Tanner Bodine from the Dallas office.
About THQ Nordic
THQ Nordic develops and publishes PC and console games for the global games market. The company has an extensive catalogue of over 100 owned franchises. THQ Nordic's shares are publicly listed on Nasdaq First North Stockholm.