STOCKHOLM, SWEDEN (April 26, 2019) – Starbreeze and Mohawk Games have mutually agreed to sell back the publishing rights to Mohawk for “10 Crowns”. Starbreeze expects to be fully reimbursed for costs the company has had in connection with development of the game.
Starbreeze acquired the publishing rights for “10 Crowns” in 2018 and has since then partly financed the development of the game. The title owner Mohawk Games and Starbreeze have now reached an agreement whereby Starbreeze returns the publishing rights for the game to Mohawk and will be able to recoup the development costs at a premium.
“As we work through our reorganization it also means that we will need to look at each and every opportunity presented and make some hard decisions which are the right for the situation we are in. Mohawk has made good progress on the project so far and we’ll be excited to see the product realized when the time comes for its release”, said Mikael Nermark, acting CEO Starbreeze AB.
As previously announced, Starbreeze will focus on its core business of games development and publishing. Starbreeze holds publishing rights for “Psychonauts 2”.
For more information, please contact:
Pia Rosin, Interim Head of Investor Relations
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This information is information that Starbreeze AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 09:00 CET on April 26, 2019.
Starbreeze is an independent developer, creator, publisher and distributor of PC and console targeting the global market, with studios in Stockholm, Barcelona, Paris, Bangalore and Dehradun. Housing the smash hit IP PAYDAY, Starbreeze develops games based on proprietary and third-party rights, both in-house and in partnership with external game developers. Starbreeze shares are listed on Nasdaq Stockholm under the tickers STAR A and STAR B with the ISIN-codes SE0007158928 (A share) and SE0005992831 (B share). Starbreeze announced via a press release on December 3, 2018 that the company, including certain subsidiaries, entered into reconstruction. For more information, please visit starbreeze.com