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Remedy planning IPO to fund multi-project development

Remedy planning IPO to fund multi-project development

April 27, 2017 | By Chris Kerr

April 27, 2017 | By Chris Kerr
More: Console/PC, Business/Marketing

Quantum Break and Alan Wake developer Remedy Entertainment is looking to go public in a bid to raise development and commercialization funds. 

The Finnish studio is exploring the possibility of listing the company on the Nasdaq Helsinki administered First North Finland market, and is also weight tip the option of a tandem IPO. 

Any listing would likely take place in May, and would hopefully allow Remedy to cover the expenses that come with multi-project game development

"We’re developing our business in line with our strategy towards a multi-project model, which helps us release high-quality games to the global market more often," said Remedy CEO, Tero Virtala.

The developer also believes an IPO or market listing will put it in a better position to retain ownership over its intellectual properties, giving it the means to build a long-term business model around game brands. 

"A successful game requires experience and skill to build a sustainable brand as well as comprehensive game development competence and the ability to commercialize games throughout their life cycles," added company founder Markus Mäki. "You also need great business relations and solid funding to support all of this."

Remedy recently revealed it will be returning to PlayStation development after over a decade with its next project, codenamed "P7." The studio is also working with Korean developer Smilegate on the sequel to popular online shooter, Crossfire

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