Earlier today, we reported that THQ Nordic had purchased Bugbear Entertainment, developer of Wreckfest and the FlatOut games. This, along with Goat Simulator studio Coffee Stain, is the latest in an extremely aggressive phase of acquiring independent publishers and developers, and as it turns out, the strategy is paying off.
The company's earnings show a year-on-year net sales increase of 1,403 per cent for the last three-month period. The publisher claims that this significant growth is thanks to its acquisition of Koch Media and Deep Silver. Sales from these companies amounted to $27.6 million, but THQ Nordic's own titles, such as Red Faction: Guerrilla Re-Mars-tered, helped rake in a further $13.6 million.
It's pretty amazing to think that THQ more or less went under not so long ago, and now they've reincarnated, and are back in business. Having purchased a lot of IPs over the year - including TimeSplitters, which it's actively working on - it seems like it's going from strength to strength, and isn't slowing down. CEO Lars Wingefors has said that THQ Nordic has 55 games in development, only 20 of which have been announced, so expect to see the publisher pop up quite a bit in future.
What do you think of THQ Nordic's turnaround, and focus on buying up development studios? Take a guess about those 35 unannounced games in the comments below.
[source gamesindustry.biz]
Comments 13
nice.i l💗❤💕💖ve battle chasers nightwars.word up son
Good thing they have the money b/c I'm not sure their almost stealth like release of Darksiders 3 is going to go so well. I only remember the release date b/c the day after cyber Monday seems like one of the worst days possible. Even the day after Christmas would be better when people have gift cards to spend.
I'm looking forward to the game, but I'm also thinking $30 by spring.
I do like that the company is back, it's a nice feel good story. Still waiting on a Tak trilogy remaster, I think there were 3, or a new game. Crash and Spyro show that old 3D platformers are hot right now, and Tak has never really been re-released like Jak, Sly and Ratchet.
Someone needs to write a case study on this company.
Yeah crazy how far they have come when there main pedigree before buying THQ was shovelware Wii games.
I wouldn't call this a reincarnation.
It's Nordic bought out & using THQ brand...
I do wish them all the best, but I get the impression this won't last long. There's a reason most companies don't act that way.
It's nice to know that there's a company who are willing to buy up and put old unwanted series to better use.
A few years back I thought Darksiders, one of my fave series, was dead and buried and here we are, 2 weeks from a new release. If it wasn't for Nordic and their current approach, so many beloved series' would have been put in a vault by their owners and left to rot.
This company has a fishy taste of Gizmondo to it.
Kingdoms Of Amular Remaster is one of those games coming I hope & new one after so happy they got that IP.
Biomutant looks really good as well
@whywai88 About to say the same thing and not course there gonna make a profit considering they have not released hardly any new games or new IPs but by buying old ones and just (so called) Remastering them considering most of there Remasters run like crap and have been more buggy that the originals. In fact they don't even fix the known bugs from the originals there excuse is they don't have original source code or some other crap.
@get2sammyb
Debt ratio in %
2014 - 94.09
2015 - 55.24
2016 - 51.99
2017 -25.78
2018 - 19.23
Some turnaround. They are estimated to have just shy of £5 billion of assets in 2020 due to their strategy.
And more importantly we get Timesplitters woo hoo!
55 games!? Say THQ releases one per month, that means they could keep churning out games continuously until May 2023! Clearly they don’t believe in less is more or quality over quantity.
But they have nothing to do with the original THQ. Didn't Nordic just buy the name after THQ bankrupted or am I missing something?
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