Swedish games company THQ Nordic now has a pile of cash to fuel future purchases.

The firm has raised $168m through a direct share issue. 7.7m Class B shares have been issued at $21.85 each. This is the investor equivalent of a fire sale, led by Carnegie Investment.

According to a post on THQ Nordic's investor relations portal, the firm said that it intends to use this cash to: "Finance new acquisitions of franchises, game development studios or other objects which complement the operations, and enable a higher rate of investment in the development of the Company."

This follows THQ Nordic purchasing Deep Silver for $196m, as well as the developer of Biomutant Experiment 101.

The company - formerly Nordic Games - has been on a spending spree since 2013. Then it bought IP including Darksiders and Red Faction from the THQ fire sale. In 2016 it rebranded to THQ Nordic having bought the name for the defunct publisher.