Paradox Interactive, the Swedish global publisher and developer of interactive entertainment has announced an agreement to acquire 100% of the shares in Seattle-based Harebrained Holdings Inc, who own Harebrained Schemes, LLC.
Purchased at a fixed price of $7,500,000 USD at the time of acquisition, Paradox Interactive will additionally purchase a price corresponding to 25% of the acquired business earnings before publishing costs occur over the next five years to the extent of earnings exceeding the fixed purchase price. This deal is set to close by Thursday, June 7, 2018.
So we've got some big news for you; "Paradox Interactive to acquire Seattle-based Harebrained Schemes" https://t.co/etT2CuIsIQ Welcome to the family @WeBeHarebrained <3— Paradox Interactive (@PdxInteractive) June 5, 2018
Founded in 2011, Harebrained Schemes was lead by industry veterans Mitch Gitelman and Jordan Weisman. Together, they shipped eight titles in a span of seven years, which included the award-winning Shadowrun Returns series and recently released turn-based strategy title BATTLETECH. The launch of BATTLETECH occurred in collaboration between Paradox Interactive and Harebrained Scheme, acting as their first collective project. The team then understood the possibilities of what further collaboration could bring in the long term upon joining forces, which was considered as hard criteria in this acquisition.
Harebrained Scheme will continue to operate alongside their own internal management and creative crew, developing and designing the types of games that have earned them their reputation. As a new division of Paradox Interactive, the studio will gain newfound access to distribution and business expertise, financial support, and an extended colleague network moving forward. Fans of Harebrained Schemes' games may continue to count on the community involvement present within the studio.
Paradox Interactive stands as a leading global publisher of PC strategy games that stretch back to 1999. Their steadily-growing portfolio includes critically-acclaimed franchises such as Crusader Kings, Heart of Iron, and Europa Universalis, among others. Paradox Interactive also owns White Wolf Interactive, and have published award-winning titles such as Pillars of Eternity and Cities: Skylines through a network of partner studios.
Further information will be disclosed in a live-streamed Q&A featuring both Weisman and Fredrik Wester, CEO of Paradox Interactive, in the near future via their Twitch channel.