Avalanche Studios, the Stockholm headquartered developer of Just Cause, theHunter and Mad Max, has secured over $10 million in investment from Scandinavian media company Nordisk Film, which will make the operator a minority interest stakeholder in the company.
"It's great to have Nordisk Film on board as partner", said Pim Holfve, CEO of the 270-employee Avalanche. "With a solid background from a range of creative industries, they understand our business well and have a matching company culture. This investment allows us to further accelerate toward our goal of developing and self-publishing more high quality games."
Nordisk is a producer and distributor of cinema, as well as operating several cinema theatres. Nordisk CEO Allan Mathson Hansen sees the investment as adding another valuable creative pillar to the company's portfolio. Hansen will also join Avalanche's board.
"I am excited that we have the opportunity of becoming co-owners of Avalanche Studios, which has a very solid and proven track record in the global gaming market, " said Hansen. "We are investing heavily in gaming and look forward to working with Avalanche Studios on bringing the company to the next level. Gaming fits our profile very well. We are used to working with creative people, commercializing creative products and developing IPs."