(Alliance News) - Digital Bros Spa announced Wednesday that its subsidiary 505 Games Spa has signed an agreement with Remedy Entertainment PLC to transfer publishing, distribution and marketing rights related to the Control saga video games.

The payout amounts to a minimum of EUR15.7 million with a potential minimum margin, an amount corresponding to the investments made by 505 Games as of today's date for the development of Condor and Control 2.

"The group," the company specified in a note, "has been reviewing its intellectual property portfolio, with the intention of improving risk management in the context of a rapidly changing market, paying particular attention to the risk-return profile of each project. Digital Bros has focused on developing a selected number of products with high margins and, in particular, on video games whose intellectual property is held by the Group capable of creating long-term value."

The agreement calls for the termination of the existing publishing contracts and the transfer of the rights to Control, Condor and Control 2 to Remedy Entertainment. 505 Games will continue with the publishing of Control until Dec. 31, 2024, continuing to manage the sublicensing contracts under the contractual terms currently in place.

Digital Bros' stock closed Wednesday in the green by 0.1 percent at EUR8.93 per share.

By Chiara Bruschi, Alliance News reporter

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