Remedy acquires full Control rights from 505 Games for €17m
The developer now owns the rights to the original game, its sequel, and the announced multiplayer spin-off Condor
Remedy has reacquired the rights to its hit action game Control from 505 Games.
The Finnish video game developer now owns the rights to the hit 2019 action game, alongside its upcoming sequel and the multiplayer co-operative spin-off game Condor.
505 Games will continue as the publisher of the original Control until December 31, 2024. The cost of the deal is €17 million, which is the amount that 505 Games had invested in the development of Control 2 and Condor. Remedy notes that due to 'certain receivables', the actual amount it will pay will be less than that.
Remedy says that it will weigh-up whether to self-publish or find a new publishing partner for the Control titles.
Digital Bros, which owns 505 Games, is shifting its strategy to focus on fewer titles and on IP that it owns with 'long-term value creation'.
Control has been a hit for Remedy, shifting over four million units worldwide and generating over €100 million in revenue. The game also connects to the Alan Wake series as part of the Remedy Connective Universe.
Alan Wake 2 launched in October last year and has sold 1.3 million units. It was published by Epic Games.
“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," said Remedy CEO Tero Virtala
"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.”
He added: “As we amicably part ways, I would like to take this opportunity to thank the 505 Games team for our partnership over the years and for helping to establish Control as a gaming franchise with a lot of future potential.”