THQ Nordic Acquires Warhorse Studios

THQ Nordic Acquires Warhorse Studios

In a press release, it was recently announced that THQ Nordic AB’s wholly owned subsidiary, Koch Media, will be acquiring the Prague based Warhorse Studios. Warhorse Studios saw success with the launch of their first game, Kingdom Come: Deliverance. The game was a smash-hit funded by Kickstarter, set in Medieval Bohemia in the year 1403. Kingdom Come: Deliverance has now sold over two million units since its launch a little over a year ago. Lars Wingefors, CEO of THQ Nordic AB said the game was “a great success”. He also had this to say about Warhorse Studios:

Warhorse Studios is one of the leading independent studios in Europe and I am proud to welcome them to the THQ Nordic group.” 

I look forward to continue working with the founders who will continue managing the studio under strong creative freedom for many years to come.”

THQ Nordic Acquires Warhorse Studios

Warhorse Studios’ Official Statement:

Martin Frývalský, CEO of Warhorse Studios, mentioned that this acquisition is an important milestone for Warhorse. He talked about the small beginnings of the team, and how the team’s skill, coupled with the immense support from fans, investors, and Kickstarter supporters helped Warhorse and Kingdom Come: Deliverance reach the international level. On the acquisition, Martin said,

We believe that backing by THQ Nordic will give us an extra push in our mission to bring exciting games to our customers and extend the frontiers of the gaming industry.”

Important Details

  • THQ Nordic AB acquires 100 percent of the shares in Warhorse Studios S.R.O. through its indirectly wholly owned subsidiary Koch Media GmbH.
  • All intellectual property rights for Kingdom Come: Deliverance are included in the acquisition.
  • The preliminary purchase price amounts to 42.8 MEUR, corresponding to 33.2 MEUR on a cash and debt free basis.

Two things were mentioned toward the end of the press release. The first being that Warhorse will still remain an independant studio after its acquisition by THQ Nordic. The second being that both the founders and CEO of Warhorse Studios, Daniel Vávra, Martin Klíma, and Martin Frývalský, will remain in their current roles at Warhorse.