Piranha Bytes Acquired by THQ Nordic

THQ Nordic announced they’re taking over Piranha Bytes. Piranha, the developer behind game series Gothic, Risen and ELEX, will provide access to a strong portfolio of existing intellectual properties (IPs) and a new game pipeline.

THQ Nordic will own the development studio and all IP rights. The parties decided not to disclose the purchase price, but it is said to equal three years of what management’s estimated royalty payments to Piranha for upcoming titles would have been if the acquisition had not occurred.

“Piranha Bytes is one of the most iconic German game studios and the creators of RPG’s Gothic, Risen and, more recently, ELEX. The three strong IPs have proven successful and will be great additions to our portfolio. We look forward bringing Piranha team into the family which has received legendary status across the RPG community as their fanbase cherishes their current games and eagerly anticipates their new titles in the future”, stated Lars Wingefors, Group-CEO THQ Nordic AB.

Piranha, founded in 1997, is best known for its atmospheric open worlds and RPGs. The current version was set up in 2002 and the studio is now located in Essen, Germany, with approximately 31 full-time employees.

Piranha is said to remain an independent game development studio under the newly formed entity Piranha Bytes GmbH, focusing on the creation of RPG gaming experiences, while THQ Nordic GmbH will act as the publisher. Piranha will continue to be led by CEO Michael Rüve and Head of Games Björn Pankratz.

“We have a successful and long-standing relationship with THQ Nordic and are very excited to join the group. THQ Nordic has unparalleled experience and capabilities in games development and publishing, and we are convinced they are the perfect partner to support Piranha in taking the studio to the next level. We see a unique opportunity to continue to develop great, memorable and impactful RPG games, now being part of the THQ Nordic family”, stated Michael Rüve, CEO Piranha Bytes.