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Koch Media acquisition driving record sales at THQ Nordic

Koch Media acquisition driving record sales at THQ Nordic

November 14, 2018 | By Chris Kerr

Net sales are up by some margin at THQ Nordic, which just posted its financials for the three months ended September 30

According to the fiscal report, net sales increased by 1,403 percent year-over-year to a record total of SEK 1.27 billion ($139.8 million), while operating profit rose by 278 percent to SEK 90.8 million ($9.9 million). 

The company attributed that sizable upswing to the recent acquisitions of Koch Media and Deep Silver, along with a positive showing from its own game roster. 

Indeed, net sales within the Deep Silver (and Koch Media) segment clocked in at SEK 251.8 million ($27.7 million), with Dakar 18 and Pathfinder: Kingmaker both being praised for putting in solid performances. 

Meanwhile, net sales of THQ's game lineup rose by 47 percent to SEK 124.2 million ($13.7 million) thanks to the release of Titan Quest, the dubiously named Red Faction Guerrilla Re-Mars-tered, and This is the Police 2

THQ's Partner Publishing business also had a strong quarter due to some 'significant releases' including F1 2018Shenmue 1 & 2, and Shadow of the Tomb Raider from partners Codemasters, Sega, and Square Enix. 

The company was also busy on an operational front, with THQ making headlines after acquiring a number of notable properties including Alone in the DarkKingdoms of Amalur, and Timesplitters

THQ claims those purchases will be the first of many, and made good on that promise earliertoday by acquiring Goat Simulator developer Coffee Stain and Wreckfest maker Bugbear Entertainment.

"We are patiently working on adding more great companies into the group, both developers and publishers. This is a daily proactive activity within the parent company, as well as within both operating groups," explained company CEO and founder Lars Wingefors.

"We are engaging with a large number of companies across the globe with respect to joining the group. I am confident about our strategy and capability to benefit from the ongoing shift in platforms and technologies."

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