2024-02-28 17:46:21
(Alliance News) – Digital Bros Spa announced on Wednesday that its subsidiary 505 Games Spa has signed an agreement with Remedy Entertainment PLC to sell the publishing, distribution and marketing rights to the Control saga video games.
The repayment amounts to at least 15.7 million euros with a possible minimum margin, an amount that corresponds to 505 Games’ previous investments in the development of Condor and Control 2.
“The group,” the company said in a statement, “has reviewed its intellectual property portfolio with the intention of improving risk management in the context of a rapidly evolving market, paying particular attention to the risk-return profile of each project. Digital Bros has focused on developing a select number of high-margin products, particularly video games, whose intellectual property is owned by the group and which are capable of creating long-term value.
The agreement includes the termination of the existing publishing agreements and the assignment of the rights to Control, Condor and Control 2 to Remedy Entertainment. 505 Games will continue publishing Control until December 31, 2024 and will manage the sublicensing agreements in accordance with the terms and conditions currently in effect.
Digital Bros shares closed on Wednesday with a gain of 0.1 percent at EUR 8.93 per share.
Von Chiara Bruschi, Alliance News Reporterin
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