Pieces Interactive
Game development studio.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
* | SEK2.8m Valuation: SEK2.8m 0.4x EV/Revenue -6.4x EV/EBITDA | Acquisition | |
| Total Funding | 000k | ||
| EUR | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 65 % | 4 % | 25 % | 26 % | 15 % | 29 % | 4 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 9 % | 2 % | 1 % | 9 % | - | - | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 3 % | 1 % | - | 6 % | 6 % | 9 % | (36 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
Pieces Interactive was a Swedish video game development studio founded in 2007 by nine individuals, originating as a team of former students from Sweden's game development programs. The company was established in Skövde and emerged from the Science Park Skövde's startup program. Throughout its 17-year history, the studio developed a diverse portfolio of over ten games for PC, consoles, and mobile devices.
The studio's business model encompassed both the creation of its own intellectual properties and work-for-hire projects for external publishers. Early titles included original concepts like the puzzle game "Puzzlegeddon" (2008), "Fret Nice," "Leviathan: Warships," "Robo Surf," and "Kill to Collect". The company also became a key development partner for other firms, with a client list that featured Paradox Interactive, Koei Tecmo, and Arrowhead Game Studios. A notable collaboration was with Paradox Interactive on several projects, including the development of "Magicka 2" and various downloadable content (DLC) packs for the "Magicka" series.
A significant milestone occurred in August 2017 when Pieces Interactive was acquired by THQ Nordic, a subsidiary of Embracer Group (then known as Nordic Games), for approximately $351,000 (SEK 2.8 million). Following the acquisition, the studio was tasked with developing expansions for the action RPG "Titan Quest," releasing "Ragnarök" and "Atlantis". The studio's final and most ambitious project was a reimagining of the classic 1992 survival horror game, "Alone in the Dark." This project represented a major undertaking, leading the studio to nearly double its team to over 42 employees. The game featured Hollywood actors David Harbour and Jodie Comer in leading roles. Despite its high-profile nature, "Alone in the Dark," released in March 2024, received mixed reviews and failed to meet the sales expectations of parent company Embracer Group. This commercial underperformance led to the studio's closure in June 2024, marking the end of its 17 years in operation.
Keywords: video game development, game studio, Skövde, work-for-hire, contract developer, PC games, console games, mobile games, Puzzlegeddon, Magicka 2, Titan Quest Ragnarök, Titan Quest Atlantis, Alone in the Dark, THQ Nordic, Embracer Group, Paradox Interactive, game studio closure, survival horror, action RPG, independent games