Syndicate developer takes on all proprietary tech and establishes Stockholm office
Swedish developer Starbreeze has acquired Payday: The Heist studio Overkill Software.
The deal means that Starbreeze will take on all propriety tech and IP from the developer, as well as establishing an office in Stockholm.
Digital studio Overkil’s flagship title, first-person shooter Payday: The Heist, has sold more than 400,000 copies since its release on PC and PSN in October, with expansions and a sequel currently in development.
As part of the buyout, Starbreeze will implement an incentive program comprising of 42.8 million stock options to “certain key employees” at Overkill.
The acquisition however is dependent on the Swedish developer selling 200 million new shares in the company, which will be up for sale on or around June 15th.
This is so that it can fulfil terms of the agreement to make sure that all business opportunities from the buyout are protected.
“Starbreeze and Overkill are two unique FPS studios,” said Overkill creative director Ulf Andersson.
“Starbreeze has graphical emphasis, and Overkill have total focus on innovative gameplay. Together we form a unique constellation of creative forces. With two strong technology platforms and extensive experience of major productions, we become an unbeatable team."
Uppsala-based developer Starbreeze has developed games such as The Darkness, Chronicles of Riddick: Assault on Dark Athena and most recently Syndicate on PC, PS3 and Xbox 360.