Entertainment company Nordisk Film has proceeded to buying out its portfolio company, Sweden-based games maker Avalanche Studios, for a total of €117m ($138m), according to Venturebeat.
Nordisk paid a $98m to acquire the remaining shares in Avalanche, having already owned a minority stake in the business. The corporate previously injected $10m in April 2017, though it is not clear when it supplied the remaining money.
Founded in 2003, Avalanche Studios develops games with a focus on open world action. The company will continue to develop its current projects.
Christofer Sundberg and Linus Blomberg co-founders of Avalanche, will remain with the business, as will CEO Pim Holfve.
Mikkel Weider, managing director at Nordisk Film Games, said: “We have been minority owners of Avalanche Studios for a year, and are already impressed by their results.”