Steamforged continues strategy by buying Warmachine IP
Thu, 12 Dec 2024 | DIVISION SALE
Tabletop games developer Steamforged Games has made its latest move by buying the IP of Iron Kingdoms from US-based publisher Privateer Press.
Manchester-based Steamforged is known for adapting triple A video game titles into tabletop games, such as Dark Souls, Monster Hunter: World, Resident Evil and Horizon Zero Dawn, along with a series of award-winning own IP games such as Bardsung, Epic Encounters and Animal Adventures.
It has now expanded this content with the IP of Iron Kingdoms, which includes the acclaimed wargame Warmachine, the Iron Kingdoms roleplaying series and the Formula P3 painting line.
Legal support was provided from North East law firm Mincoffs Solicitors led by Antony Hall, partner and head of commercial services and associate solicitor Jenny Wade. Their work involved drafting and negotiating a suite of legal documents and working on the cross-border deal with New York counsel on US-specific intellectual property matters.
Steamforged founder and CEO Rich Loxam said the deal was transformative. “Mincoffs have been fantastic over the past eight years, supporting Steamforged’s growth as we’ve continued to expand our library of triple-A video game licence adaptations and acquire existing IP. The transnational acquisition of the Iron Kingdoms and Warmachine is a pivotal move for the business.”
“Steamforged is a longstanding client and we have supported Rich and the team as the business has grown over the last eight years,” Hall said. “Steamforged’s track record in the tabletop game industry speaks for itself and their passion for the Iron Kingdoms universe puts them in the perfect position to take ownership of the brand going forward.”
The tabletop games market was valued at $27 billion in 2023 and is expected to reach nearly $50 billion in 2029.
It has been driven by young people looking for hobbies which are more interactive than computer games and adults nostalgic for their youth.
Find out more about recent M&A trends
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