THQ Nordic has acquired Goodbye Kansas Game Invest, in a deal worth SEK 42.4m (£4.4 million) on a cash and debt-free basis.
The acquisition includes a portfolio of minority investments in five early-stage development studios; Palindrome Interactive, Fall Damage, Neon Giant, Kavalri and Framebunker as well as royalty rights to THQ Nordic’s upcoming game Biomutant.
It is the second acquisition that THQ Nordic has made after it purchased Milan-based racing studio Milestone for €44.9m in cash.
The acquisition includes a portfolio of minority investments in five early-stage development studios—Palindrome Interactive, Fall Damage, Neon Giant, Kavalri, and Framebunker, as well as royalty rights to THQ Nordic’s upcoming game Biomutant.
Goodbye Kansas Game Invest’s previous investments in IGDB.com, Bearded Dragons, and Goodbye Kansas VR will be retained in Goodbye Kansas.
THQ Nordic group CEO Lars Wingefors said in a press release: “Besides continuing to support the current portfolio, the transaction provides a great platform for strategic investments in early-stage companies as well as in established teams starting their own development studios.”
Goodbye Kansas Game Invest CEO Per-Arne Lundberg added: “The Nordic countries have positioned themselves among the most successful gaming communities in the world and we strongly believe in their continued potential. We are looking forward to partner up with THQ Nordic who share our passion for the gaming industry.”
With the acquisition of Goodbye Kansas Game Invest, THQ Nordic hopes to launch a new platform to make investments in early-stage companies and in established teams starting their own development studios. THQ Nordic aims to add value by both capital and competence, as well as offering publishing and knowledge sharing within the wider THQ Nordic group.