Austria-based games publisher THQ Nordic has acquired media firm Koch Media in a deal worth €121 million ($195.7 million).

Koch Media is the owner of games publisher Deep Silver, which owns numerous major IP, including Saints Row, Homefront and the Metro series. 

The deal will see THQ Nordic pay a total of €82 million ($101.4 million) in cash, with €66 million ($81.6 million) paid upfront and the rest over 2018. €9.5 million ($11.7 million) will be paid in newly created shares.

THQ Nordic and Koch Media will continue to exist and operate as separate entities, with no restructuring planned. A new name for the listed entity may be put into place later in 2018, but THQ Nordic and Koch Media will retain their separate names if this happens.

Big plans

“Koch Media has a long history of profitability despite losses incurred from some less successful game releases," said THQ Nordic CEO Lars Wingefors.

"THQ Nordic is convinced that the development studios of Deep Silver as part of THQ Nordic will successfully deliver at least four ongoing AAA game projects including Metro Exodus as well as the next Volition Studio AAA release and the next Dambuster Studio AAA release, together with a number of other game development and publishing titles."

The deal is slightly bigger than THQ Nordic's last purchase. It picked up Biomutant developer Experiment 101 back in November 2017 for an undisclosed sum.