Paradox Interactive today announced it has acquired 33% of development studio Hardsuit Labs, based in Seattle, for 2M USD. Paradox has an option to increase its ownership in the future.
Hardsuit Labs was founded in 2015 by a team of games development veterans with a long industry track record, including founders Andy Kipling and Russell Nelson. Hardsuit Labs is currently working on an as-yet unannounced title, to be published by Paradox Interactive in the future. More details on the team, including their earlier productions, can be found here: https://www.hardsuitlabs.com/about/
“We are continuously looking for partners suited to join our journey onwards. We have much confidence in the team built by Hardsuit Labs and their capacity to create great games,” said Fredrik Wester, CEO of Paradox Interactive. “Since this is a minority acquisition, Paradox will act more like a silent partner and the studio will continue to operate like it has been previously. The reason for this acquisition is to increase our own capacity to manage our portfolio of brands in a strategic way, together with a studio and studio management we believe in.”
For additional information, please contact:
Fredrik Wester, CEO Paradox Interactive
Andras Vajlok, CFO Paradox Interactive
Phone: +4670-355 54 89