Remedy Entertainment Gets €15 Million Loan From Tencent

As a seasoned gamer with decades of gaming under my belt, this latest news about Remedy Entertainment partnering with Tencent for €15 million is music to my ears! I’ve always admired Remedy for their innovative storytelling and immersive gameplay, from Max Payne to Control. This move will not only strengthen their position in the industry but also enable them to self-publish future titles.

remedy entertainment, creators of Control and Alan Wake, recently signed a €15 million ($16.76 million) loan deal with Tencent.

On Friday morning, Remedy made an official announcement through a press release. According to Remedy’s CEO, Tero Virtala, this decision enables the company to progress in game development and also publish their own upcoming titles independently.

RELATED: Remedy Partners With Annapurna To Bring Control and Alan Wake To Film and Television

In the future, a key part of Remedy’s plan is to boost our influence within the production process, ensuring we have greater say in how our video games are marketed, and ultimately expanding our stake in the profits these games generate,” he explained.

With this financial backing, we can further develop and maximize the capabilities of the games currently in production, as well as execute the business operations for our upcoming self-published titles. Tencent’s investment underscores their faith in Remedy’s long-term goals and strategies.

Currently, Remedy Entertainment boasts several games underway, such as Control 2 and a spin-off titled Project Condor. In addition, they are heavily engaged in the complete production of the Max Payne 1 & 2 remakes.

The agreement for the convertible loan has a yearly interest rate of 8%, but it’s non-cash, meaning no physical money is exchanged. When it’s time to convert, each share will be valued at approximately €27.2 ($30.40). This conversion can create up to 811,100 new Remedy shares, which equals about 5.98% of all the company’s existing shares.

Tencent currently owns 15% of Remedy.

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