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'Max Payne' Developer Remedy Entertainment Teases New Game.

The developer behind video game series like the Max Payne and Alan Wake franchises will be back soon with a new game. Developer Remedy Entertainment (http://www.remedygames.com/505-games-signs-worldwide-publishing-deal-with-remedy-entertainment/) announced Wednesday it had signed a partnership with publisher 505 Games to produce its next game.

Details on the new game are scant, but Remedy Entertainment said the code-named Project 7 will be a third-person action title that's "set in a new Remedy-created universe." The title is expected to come out on PlayStation 4, Xbox One and the PC at an unknown date. As part of the deal, Remedy Entertainment will receive around $8.5 million from 505 Games to produce Project 7.

In a statement, Remedy Entertainment chief operating officer Tero Virtala said 505 Games proved to be a good partner for what the studio wanted to accomplish.

"We have a strong vision of what P7 should be," Virtala said. "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 a unique gaming experience that will keep the players engaged and playing for a long time to come. We are really excited to embark on this journey with 505 Games."

Digital Bros CEO Raffaele Galante echoed the sentiment on the studio's partnership with 505 Games.

"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," Galante said. "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."

As a publisher, 505 Games has helped produce a mix of well-known indie and mass market games like the diving adventure Abzu and the multiplayer automotive/sports game Rocket League.

For Remedy Entertainment's part, the announcement brings the studio back to multi-platform development after an extended publishing history with the Xbox One and ends a relative lull on the studio's upcoming release schedule. The studio is best known for its involvement with titles like 2001's original Max Payne, along with Xbox One psychological action adventure title Alan Wake and 2016's Quantum Break. With Wednesday's deal, the studio will be able to produce and sell its games for all major consoles.

The news is also the first of several potential major moves from the studio. (http://www.gamasutra.com/view/news/296988/Remedy_planning_IPO_to_fund_multiproject_development.php) Gamasutra  reported Remedy Entertainment is looking into getting listed on the Nasdaq Helsinki-run First North market and is eyeing a possible initial public offering.

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Publication:International Business Times - US ed.
Date:May 4, 2017
Words:469
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