Remedy is all set to acquire complete Control by purchasing the full franchise rights from 505 Games

The company that created Alan Wake 2, Remedy Entertainment, has declared that it has paid €17 million to publisher 505 Games to acquire complete control of the game.

In an investment letter, Remedy declared that it and 505 Games had reached an agreement for the publishing, distribution, and marketing rights to Control, Control 2, and any upcoming Control projects, including the multiplayer spinoff Codename Condor.

Although 505 will continue to publish Control through December 31 of this year, Remedy’s existing publishing contract with 505 will end immediately.

According to Remedy, the cost “equals the amount that 505 Games has paid, plus a small premium, for the development of codename Condor and Control 2 to date.”

TeroVirtala, CEO of Remedy, states: “Since we partnered with 505 Games to develop and release Control in 2017, we have had great success together in turning the game into a hit that has sold over 4 million copies and brought in shareable net revenue of roughly EUR 100 million for both Remedy and 505 Games. We have regained all rights to Control, the in-development Condor, and Control 2 as part of Remedy’s long-term plan to regain more ownership over our company and the intellectual property we have produced. We are free to choose the best course of action because we own the entire Control franchise.  
We will carefully weigh our options, keeping in mind that many partners find Control to be an appealing franchise. Since both Condor and Control 2 have made good progress lately, we anticipate that they will both enter their next phases of development in the first half of 2024. Normal development of Condor and Control 2 will resume once the optimal publishing, distribution, and funding mechanism for these projects has been determined.

It’s not really apparent what brought us to this point. Clearly, either 505 Games or Remedy Entertainment has made the decision to end their collaboration.

Remedy presently collaborates with Epic Games, which helped finance and release Alan Wake 2, a critical hit that hasn’t yet turned a profit because it hasn’t covered its production and marketing expenses. Due to the connections between the Control and Alan Wake universes, it’s possible that Remedy will turn to Epic for financial support for Control-related projects. Alternatively, Remedy themselves stated that they might choose to self-publish.