https://www.starbreeze.com/2019/02/...-publishing-rights-to-otherside-entertainment
STOCKHOLM, SWEDEN (February 11, 2019) – Starbreeze and OtherSide Entertainment have mutually agreed to sell back the publishing rights to OtherSide Entertainment for "System Shock 3". Starbreeze expects to be fully reimbursed for costs the company has had in connection with development of the game.
Starbreeze acquired the publishing rights for "System Shock 3" in 2017 and has since then partly financed the development of the game. The title owner OtherSide Entertainment and Starbreeze have now reached an agreement whereby Starbreeze returns the publishing rights for the game to OtherSide and will be able to recoup the development costs.
"I believe this is the best solution for us, although it is sad that we cannot complete the project with OtherSide. System Shock 3 is a fantastic title developed in cooperation with the industry legend Warren Spector and I am looking forward to seeing the game released", said Mikael Nermark, acting CEO Starbreeze AB.
As previously announced, Starbreeze will focus on its core business of games development and publishing. Starbreeze holds publishing titles for "Psychonauts 2" and "Ten Crowns".
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 18:50 CET on February 11, 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, Paris, Bangalore and Dehradun. 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
STOCKHOLM, SWEDEN (February 11, 2019) – Starbreeze and OtherSide Entertainment have mutually agreed to sell back the publishing rights to OtherSide Entertainment for "System Shock 3". Starbreeze expects to be fully reimbursed for costs the company has had in connection with development of the game.
Starbreeze acquired the publishing rights for "System Shock 3" in 2017 and has since then partly financed the development of the game. The title owner OtherSide Entertainment and Starbreeze have now reached an agreement whereby Starbreeze returns the publishing rights for the game to OtherSide and will be able to recoup the development costs.
"I believe this is the best solution for us, although it is sad that we cannot complete the project with OtherSide. System Shock 3 is a fantastic title developed in cooperation with the industry legend Warren Spector and I am looking forward to seeing the game released", said Mikael Nermark, acting CEO Starbreeze AB.
As previously announced, Starbreeze will focus on its core business of games development and publishing. Starbreeze holds publishing titles for "Psychonauts 2" and "Ten Crowns".
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 18:50 CET on February 11, 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, Paris, Bangalore and Dehradun. 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
