Remedy Entertainment and publisher 505 Games announced on an agreement under which all rights to publish, distribute, market and otherwise exploit Control, codename Condor, Control 2 and all future Control products revert to Remedy.
The Control franchise is at the heart of Remedy. By acquiring the full rights to Control, Condor and Control 2, Remedy is now in a position to make the right product and business decisions focused on the long-term growth of the franchise.
With respect to Control 2 and the Condor codename, all publishing, distribution, marketing and other rights licensed to 505 Games revert to Remedy with immediate effect. 505 Games will remain the publisher of Control during the transition period ending December 31, 2024, in accordance with the terms of the original Control publishing agreement.
The maximum price of the transaction is approximately €17 million, which is equal to the amount 505 Games has paid to date for the development of Condor and Control 2, and includes an «insignificant» premium. Remedy will pay the entire price in three cash installments over the next twelve months.