Commissar SFLUFAN Posted February 28 Share Posted February 28 Remedy Entertainment Plc: Inside Information: Remedy acquires full rights to the Control franchise from 505 Games - Remedy Investors INVESTORS.REMEDYGAMES.COM Remedy Entertainment Plc Inside Information February 28, 2024 at 7:00 p.m. EET […] Quote Today, Remedy Entertainment Plc (“Remedy”) and 505 Games S.p.A. (“505 Games”) announce a transaction upon which all publishing, distribution, marketing and other rights to Control, codename Condor, Control 2, and all future Control products will revert to Remedy. The Control franchise is in the core of Remedy. Having acquired the full rights to Control, Condor and Control 2, Remedy is now in a position to make the right product and business decisions focusing on long-term franchise growth. Termination of Agreements: Publishing agreements for Control, codename Condor, and Control 2 are immediately terminated by mutual agreement. Reversion of Rights: For Control 2 and codename Condor, all publishing, distribution, marketing, and other rights licensed to 505 Games revert to Remedy with immediate effect. 505 Games will continue as the publisher of Control through a transition period ending December 31, 2024, under the terms of the original Control publishing agreement. In addition, 505 Games continues to administrate existing B2B deals for Control until their agreed expiration dates. After the transition period and the expiry of these B2B deals, 505 Games will have no future royalty or other rights to Control. Purchase Price and Cash Flow Effect: The maximum purchase price for the transaction is approximately EUR 17 million, which equals the amount that 505 Games has paid for the development of codename Condor and Control 2 to date including a minor premium. Remedy is entitled to set off certain receivables from the purchase price and, therefore, the cash flow effect from the transaction will be clearly less than the purchase price. Remedy will pay the net purchase price in three cash instalments during the next twelve months. Quote This transaction will enable us to negotiate better deals for current and future Control games. We can now weigh up the options between self-publishing and a new publishing partner for Condor and Control 2. At the same time, we are in a better negotiating position than before as Control is an established brand and Alan Wake 2 has been successful. We are confident that these factors combined will enable us to get the right partner, deal structure and risk-reward profile that benefit Remedy and are the best fit for the Control franchise. We will evaluate and negotiate with potential future partners over the coming months. Through this transaction we will also get to be more directly in charge of marketing, distribution and other business-to-business deals. This enables further financing and partnership opportunities which will help us to grow the Control 2 and Condor, as well as the whole Control franchise into an even greater success than before. Quote Link to comment Share on other sites More sharing options...
TwinIon Posted February 28 Share Posted February 28 Didn't realize that Remedy didn't fully control it already. Probably bodes well for Remedy that they feel comfortable buying these rights. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted February 28 Author Share Posted February 28 Obligatory: Quote Link to comment Share on other sites More sharing options...
Spawn_of_Apathy Posted February 28 Share Posted February 28 2 minutes ago, TwinIon said: Didn't realize that Remedy didn't fully control it already. I see what you did there. Quote Link to comment Share on other sites More sharing options...
AbsolutSurgen Posted February 28 Share Posted February 28 Epic result for Remedy. 1 Quote Link to comment Share on other sites More sharing options...
XxEvil AshxX Posted February 29 Share Posted February 29 505 was the reason I had to double-dip on Series X instead of just paying a few bucks for an upgrade. Good for you, Remedy. Now don't fuck it up. Quote Link to comment Share on other sites More sharing options...
Dre801 Posted March 2 Share Posted March 2 That's cool. That leaves Max Payne and Quantum Break for them to seize control of some day Quote Link to comment Share on other sites More sharing options...
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