THQ Nordic purchases Milestone S.r.l.
Racing game developer now under the THQ brand
THQ Nordic AB's indirectly wholly owned subsidiary Koch Media has today entered into an agreement to acquire Milestone s.r.l. for a upfront purchase price equivalent to 44.9M EUR on a cash and debt free basis.
The upfront purchase price has today been paid through a cash payment to the seller and 1,267,323 B shares, corresponding to a value of 26.5M EUR, have been issued, subscribed for and allotted to the seller.
Milestone s.r.l. will be consolidated into THQ Nordic’s financial statements as of today.
Milestone is an Italian video game developer with headquarters in Milan. Founded in 1994 by Antonio Farina as Graffiti, the studio was soon renamed Milestone in 1996. Best known for their Superbike, MotoGP, MXGP and FIA WRC series, they are a leading developer of entertainment software in Italy.