Starbreeze assigns all Publishing rights for Psychonauts 2 to Microsoft Corporation receiving 13.2 MUSD

Sun, Jun 09, 2019 22:55 CET

STOCKHOLM, SWEDEN (June 9, 2019)– Starbreeze and Microsoft Corporation has signed an agreement where Starbreeze assigns all publishing rights, related agreements and commitments for the title, to Microsoft receiving 13.2 MUSD.

Starbreeze acquired the publishing rights for Double Fine’s “Psychonauts 2” in 2017 with a commitment to invest 8 MUSD for the development of the title.

As previously announced, Starbreeze will focus on its core business of games development and publishing.

“As we continue the work of securing long-term financing for Starbreeze, it’s extremely important that we find the best possible structure for the company in the long run. Although we see the Publishing unit as part of the core business, it is a cash intense business and requires continuous investments to enable the products to be launched successfully. We definitely want to continue being a best in class Publishing partner for external studios in the future, but our main focus right now is to secure the continued operations of the internal games development and self-publishing units”, said Mikael Nermark, acting Starbreeze CEO.

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For more information, please contact:

Maeva Sponbergs, EVP Communication

Tel: +46(0)8-209 208, email: ir@starbreeze.com

This information is information that Starbreeze AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 22:55 CET on June 9, 2019.

About Starbreeze

Starbreeze is an independent developer, creator, publisher and distributor of PC and console targeting the global market, with studios in Stockholm, Barcelona and Paris. Housing the smash hit IP PAYDAY, Starbreeze develops games based on proprietary and third-party rights, both in-house and in partnership with external game developers. Starbreeze shares are listed on Nasdaq Stockholm under the tickers STAR A and STAR B with the ISIN-codes SE0007158928 (A share) and SE0005992831 (B share). Starbreeze announced via a press release on December 3, 2018 that the company, including certain subsidiaries, entered into reconstruction. For more information, please visit starbreeze.com