Remedy has officially regained ownership of its acclaimed action title, Control, from 505 Games, marking a significant move for the Finnish video game developer. Alongside the 2019 hit game, Remedy now possesses the rights to its forthcoming sequel and the multiplayer co-operative spin-off, Condor.
Under the terms of the agreement, 505 Games will retain its role as the publisher of the original Control until December 31, 2024. The acquisition comes at a cost of €17 million, reflecting the investment made by 505 Games in the development of Control 2 and Condor. However, Remedy anticipates that the final payment will be lower due to certain outstanding receivables.
Remedy is now faced with the decision of whether to self-publish the Control titles or seek out new publishing partnerships. Meanwhile, Digital Bros, the parent company of 505 Games, is strategically realigning its focus towards fewer titles and intellectual properties with enduring value.
Control has proven to be a commercial success for Remedy, boasting over four million units sold worldwide and generating revenue exceeding €100 million. Notably, the game is also intertwined with the Alan Wake series as part of the Remedy Connective Universe. Alan Wake 2, which debuted in October of the previous year and was published by Epic Games, has garnered sales of 1.3 million units.
Remedy CEO Tero Virtala articulated the significance of regaining ownership, stating, “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.” He emphasized the freedom this ownership affords, allowing them to carefully consider the optimal trajectory for these franchises.
Virtala expressed gratitude towards 505 Games for their partnership, acknowledging their role in establishing Control as a promising gaming franchise.
Looking ahead, Remedy anticipates continued progress on Condor and Control 2, with both projects expected to advance to their next development stages in the first half of 2024. The development process will proceed as Remedy evaluates the most suitable publishing, distribution, and financing models for these endeavors.
