Remedy Entertainment agrees to publishing deal with 505 Games

Remedy Entertainment has announced that they have agreed to a publishing deal with 505 Games. As part of the deal, 505 Games will retain the rights for a brand new Remedy game for 20 years as well as secure 45% of sales revenue. Remedy will maintain the remaining 55%.
The game in question is a brand new game currently code named Project 7 (P7). It is 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. “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”. – Commented Raffaele Galante, CEO of Digital Bros – “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.”
CEO of Remedy Entertainment, Tero Virtala, said “
“We have a strong vision of what P7 should be. 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. We are really excited to embark on this journey with 505 Games.”
The deal was for a total of €7.75 million and will cover development costs for the game. 505 Games will also cover the publishing and marketing deals for Project 7 which will be in addition to the costs for the rights of the game. No other information was detailed about Project 7 (P7) yet and no date was announced for when we would hear more. Since it is a brand new game, however, we could imagine that release would not come until 2019 at least at this point.
The description does sound like a Quantum Break type game, as it is a cinematic third person action game.  Of course, this is not Quantum Break as it’s a brand new setting for a game, but Remedy has always maintained great story lines in their games.  We’re excited to hear more and we’ll let you know as soon as information is released.