505 Games has signed a publishing deal with Remedy Entertainment, the studio that previously made Alan Wake and Quantum Break for Microsoft platforms. The deal sees 505 Games publishing and promoting the game currently known as Project 7. The game is being described as
a cinematic third person action game set in a new Remedy-created universe. Featuring an intriguing story and a game structure offering a long-lasting experience, P7 contains the deepest game mechanics yet in a Remedy game.
505 Games will be putting up €7.75 million into boosting funds for the development costs, as well as marketing and publishing services. In exchange, 505 Games will get 45% of royalties on net sales of the game. The deal extends to give the company exclusive rights to Project 7 for 20 years while Remedy will keep all of the IP rights to the game.
Remedy CEO Tero Virtala commented on the partnership
505 Games brings into this partnership experience and competences that help us successfully make this vision become reality together. Remedy is also investing in P7 and is deeply committed to creating an unique gaming experience that will keep the players engaged and playing for a long time to come.
Raffaele Galante, CEO of Digital Bros (parent company of 505 Games) added
It is a sign of how far 505 Games has come that we are now in a position to partner with such a talented development studio as Remedy Entertainment. Our mutual life-stages, ambitions and business objectives are actually very well-aligned and we are excited to enter into what feels like a very natural partnership. The agreement fits perfectly with our strategy of continuous improvement of the quality and the potential returns of our portfolio.
505 Games isn’t new to the publishing gig, they have been behind a number of high profile titles on multiple platforms ranging from PC to console to mobile, games like Payday 2 (which Starbreeze bought the rights back for in May of 2016), Assetto Corsa and ABZÛ.
Project 7 is in development for PC, PlayStation 4 and Xbox One.