THQ Nordic acquires Deep Silver parent Koch Media
In today’s edition of unexpected news…
THQ Nordic has acquired Koch Media, owner of Metro and Saints Row publisher Deep Silver, for €121 million, the company announced.
Here is an overview of Koch Media as a company, via the press release:
Koch Media is a leading, independent producer and marketer of digital entertainment products in Europe and North America with studios in Germany, the UK, and the US, and offices in several Central and Northern European cities. Koch Media’s business consists of three business areas; 1) Games, which are mainly published under the Deep Silver label with several AAA-intellectual property rights such as Saints Row, Dead Island and Metro; 2) Partner Publishing, which is the leading company in this business area in Europe and 3) Film, which is a business within movies for primarily the German and Italian speaking territories. Koch Media generated net sales of approximately SEK 2,548 million and Adjusted EBIT of approximately SEK 296 million for the period April – December 2017.
“Koch Media has a long history of profitability despite losses incurred from some less successful game releases,” THQ Nordic CEO Lars Wingefors said in the press release. “THQ Nordic is convinced that the development studios of Deep Silver as part of THQ Nordic will successfully deliver at least four ongoing AAA game projects including Metro Exodus as well as the next Volition Studio AAA release and the next Dambuster Studio AAA release, together with a number of other game development and publishing titles.”
Koch Media CEO Dr. Klemens Kundratitz added, “I strongly believe that THQ Nordic is a great strategic fit with Koch Media. In addition to having long experience within games development and publishing, THQ Nordic has the skills, willingness and capital to deliver growth in the future.”
Read the full press release here.