News THQ Nordic acquires racing studio Milestone
News
THQ Nordic has acquired Milestone the racing game studio behind videogame series such as Ride, MXGP, Monster Energy Supercross, and more.
According to GamesIndustry.biz, the deal is worth €44.9 million and is for 100% of the shares in Milestone. The monetary figure could double should the Milan-based developer meet its earnout targets.
Milestone started its life in 1994 under the name “Grafitti”. In 2011 and 2012, the Italian studio started its own publishing business for IPs such as the MotoGP series. Growing ever successful, Milestone launched its very own franchise RIDE in 2015 which has since spawned two sequels.
Currently, Milestone provides the three yearly franchises MotoGP, MXGP and Monster Energy Supercross as well as their own franchise RIDE which appears to release every couple of years. Furthermore, Milestone has revealed it has three additional unannounced IPs due to launch in 2021.
“Becoming a part of the Koch Media Family is an important step for our studio. Being run as a family business, which is built on the enthusiasm of its team members and centered around racing games, we are delighted to bring our expertise and knowledge into the company group and strive from the experience and knowledge outside of our core DNA. We are sure that the combination of our experiences will strengthen our position in our market segment and help us to bring more exciting games to our fans and extend the frontiers of racing within the gaming industry,” says Luisa Bixio, Vice President Milestone s.r.l.
Dr. Klemens Kundratitz, CEO Koch Media GmbH adds: “We are delighted to welcome the team from Milestone to the family. After a long relationship in distribution across selected Koch territories, I am sure that the combined knowledge of our companies will open amazing new opportunities within a core market of the games industry. I am more than confident that the motivation and passion that drives the team at Milestone and the strong value within the racing segment are a solid foundation for future projects. The knowledge of fully licensed titles such as MotoGP and the experience in self-publishing and developing own IPs such as RIDE, rooting on a core DNA which centers around racing will help us to broaden our group portfolio and strengthen us for the future.”
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