THQ Nordic Acquires Black Forest Games

THQ Nordic is today announcing that the company has acquired 100% of the outstanding shares from the five founders of Black Forest Games. 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, based in Karlstad, Sweden, whereas the day-to-day business and the share deal is handled by THQ Nordic, based in Vienna, Austria. THQ Nordic 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.