THQ Nordic acquires Bugbear Entertainment and Coffee Stain studios

Two studios have been added to the ranks of THQ Nordic as the publisher continues to expand.

First up is Finnish studio Bugbear Entertainment, the 18-person team behind demolition derby game Wreckfest. THQ Nordic has acquired 90% of Bugbear's shares, with an option to acquire the rest in future.

The publisher also gains ownership of Bugbear's intellectual property, including Wreckfest. The acquisition also marks its first venture into the Finnish games market.

The two companies previously worked together when THQ Nordic published Wreckfest earlier this year, and the game has since become the publisher's best performing title on Steam. Bugbear previously developed similar racing title FlatOut, as well as Ridge Racer Unbounded.

Both Bugbear and THQ Nordic have opted not to disclose the sum of the acquisition, but it "matches management's estimated royalty payments to Bugbear during the upcoming three years", according to the announcement.

THQ Nordic has also acquired 100% of Coffee Stain, the developer and publisher behind Goat Simulator. The publisher gains IP rights to this title, as well as Satisfactory and Sanctum, plus publishing rights to Deep Rock Galactic.

The initial sum disclosed is $34.8 million, but there will be additional earn-outs based on whether Coffee Stain reaches certain milestones. The publisher esteems the studio's net sales will range from $21.9 million to $27.4 million in the next financial year, with earning before tax forecast at between $10.9 million and $16.5 million.

Coffee Stain will operate as an independent group within the publisher, with the announcement describing the firm's new status as a "highly complementary third leg in THQ Nordic". Anton Westbergh will remain as CEO of Coffee Stain and will report to the Group's chief exec Lars Wingfors.

The two acquisitions were announced alongside THQ's financial report for Q3, in which its net sales rose 1,403% to $139.5 million.