Remedy Entertainment Planning an IPO, Confirms Return to PlayStation
Remedy Entertainment, most known for working on the original Max Payne, is planning to get listed as well as initiate an IPO on the Nasdaq First North Finland stock exchange, according to an announcement on the company’s website.
According to the company, the move will give the company a “stronger value chain position” and it will enable it to “execute Remedy’s growth strategy and cover the company’s development and commercialization expenses.”
Remedy CEO Tero Virtala said in a statement:
“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. Our goal is to be one of most renowned game companies in the world.”
While the company has created several successful titles, it was never able to keep ownership of the IPs it was able to create. The company hopes that this move will change that and allow it to retain control of future IPs it plans to create.
Today’s announcement also confirms a previous report that the company will be returning to the PlayStation platform and that it is already developing its Northlight game technology for the PlayStation 4 for a new title codenamed P7. This is part of the company’s strategy to release games to a wider audience through multiple platforms and devices.