Remedy acquires Control IP
Finnish games firm Remedy has bought the rights to its smash hit title Control.
According to a release on the firm's investor site, the company paid out €17 million ($18.45 million) for not only the original entry in the franchise, but also the in-development co-op spin-off, Condor.
Remedy bought all this back from Italian firm Digital Bros – whose 505 Games originally published the supernatural shooter back in 2019. That company will continue to publish Control until the end of 2024.
That €17 million is the amount that 505 Games invested in the development Control 2 and Condor. Remedy says it is currently up in the air whether it'll publish future entries in the IP itself or rely on external partners.
“Ever since we signed up with 505 Games in 2017 to develop and publish Control, we have enjoyed a good partnership in building Control into a successful game that has sold over four million units and generated shareable net revenue of approximately €100 million to Remedy and 505 Games," Remedy CEO Tero Virtala said.
"As part of Remedy’s long-term strategy to have more ownership over our business and the IPs we have created, we have gotten back all rights for Control and the in-development Condor and Control 2. Having complete ownership over the Control franchise gives us the freedom to decide the best path forward. We will consider our options carefully, knowing that Control is considered an attractive franchise by many partners. Condor and Control 2 have both progressed well in recent months and we expect these projects to reach their next development stages during the first half of 2024. The development of Condor and Control 2 will continue normally when we consider the best publishing, distribution and financing model for these projects.”
Remedy previously bought back the publishing rights to Alan Wake back in 2019 before releasing a new entry in the series with the help of Epic Games.
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