THQ Nordic raises £225 million acquisitions war-chest

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THQ Nordic has raised $225 million via a share issue.

The fast-growing publisher – which acquired Koch Media in February 2018 – said in a statement that it: “Intends to use the proceeds from the Directed new share issue to finance new acquisitions of franchises, game development studios or other assets which complement the operations, and to enable a higher rate of investment in the development of the Company.” The statement also asserted that the share issue was: “Substantially oversubscribed”

THQ Nordic has recently embarked on an acquisitions spree of both games companies and intellectual property rights, snapping up the likes of Warhorse Studios, and the rights to TimeSplitters and Second Sight, Carmaggedon, Outcast, and Kingdoms of Amalur.

Speaking to GamesIndustry.biz, THQ Nordic CEO Lars Wingefors said: “Ultimately, on the very long-term basis I want all my companies to be financed through the cashflow from making great games that fans and consumers will enjoy and pay for. However, our strategy right now is to build something substantial, diversified and evergreen through acquisitions and substantial organic development growth. As you know, we are just approximately 0.5% of the global market and have a long way to go before we reach the next level.”

THQ Nordic’s ambitions – as set out by Wingefors — to become one of the biggest global games publishers should be substantially accelerated by the $225 million war-chest yielded by the share issue. For more information on the company, check out its website.