Paradox Interactive acquired game developer Triumph Studios. The current team and management will remain with the studio. All ongoing projects will remain in development, and will be published by Paradox Interactive.
A press release went out this morning, informing us that Triumph Studios and all its assets has been acquired by Paradox Interactive. The former is known for developing the critically-acclaimed Age of Wonders franchise and Overlord series. The Age of Wonders franchise has sold more than one million copies to date.
Paradox Interactive acquired Triumph Studios and all its assets for a total cash consideration of around £3.5 million, plus a performance-based earnout of up to around £18.5 million, to be paid out over several years. The current team and management of Triumph Studios will remain with the company.
Additionally, all their ongoing projects will remain in development, and will be published by Paradox Interactive. The acquisition will add several well-known brands to the Paradox Interactive IP portfolio. It will increase Paradox market reach as well as in-house development capacity for upcoming games.
CEO at Paradox Interactive, Fredrik Wester had this to say in the press release: "Triumph Studios is a developer of our own heart. They are world-leading within their niche and have built a large and dedicated community over the years, counting quite a few Paradox employees among their hardcore fans. We have great faith in the Triumph team and leadership, and our main focus now is to ensure that they can continue to create their magic under new ownership".
If you want to know more about this transaction, Paradox and Triumph will host a live stream and Q&A about the acquisition on Friday, 30 June at 3:00 PM BST. Tune in at twitch.tv/paradoxinteractive.