Remedy announces it's acquired the full rights to the Control franchise for $18 million

Remedy Entertainment has just announced it acquired the full rights to the Control franchise from publisher 505 Games for $18 million.

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This provides Remedy with the Control IP going forward, with the $18 million representing the amount of money 505 Games paid to the development of Control 2, which is codenamed Condor. 505 Games will continue to be the publisher of the original Control game through to December 31, 2024.

Remedy CEO Tera Virtala said: "Ever since we signed up with 505 Games in 2017 to develop and publish Control, we have enjoyed a good partnership in building Control into a successful game that has sold over 4 million units and generated shareable net revenue of approximately EUR 100 million to Remedy and 505 Games. As part of Remedy's long-term strategy to have more ownership over our business and the IPs we have created, we have gotten back all rights for Control and the in-development Condor and Control 2. Having complete ownership over the Control franchise gives us the freedom to decide the best path forward".

• Read more: Control 2 is in development: here's everything we know
• Read more: Control 2, Alan Wake 2 may release by 2025, Remedy hints

"We will consider our options carefully, knowing that Control is considered an attractive franchise by many partners. Condor and Control 2 have both progressed well in recent months and we expect these projects to reach their next development stages during the first half of 2024. The development of Condor and Control 2 will continue normally when we consider the best publishing, distribution and financing model for these projects".