Remedy Entertainment Plc
Press Release
May 7, 2024, at 9.00 a.m. EEST
Codename Kestrel cancelled as Remedy focuses on existing franchises
Remedy Entertainment Plc (“Remedy”) and Tencent Plc (“Tencent”) have decided to cancel the game project codename Kestrel. Codename Kestrel had a small team working on the early concept stage of a premium cooperative multiplayer game. The game was being developed by Remedy, co-financed with Tencent, and to be co-published with Tencent. The project started in November 2023 as a reboot from an earlier project codenamed Vanguard.
The decision to cancel codename Kestrel allows Remedy to focus more on the other games in its portfolio. Other ongoing game development projects will get experienced developers reassigned from Kestrel. In addition, the planned investment needs for Kestrel are removed and Remedy’s overall recruitment needs are reduced.
“Codename Kestrel showed early promise, but the project was still in its early concept stage. Our other projects have advanced well and are moving to the next stages of development, and increasing focus on them provides us with benefits. We can reallocate talented Kestrel developers to these other game projects, and many of our support functions get additional focus on their operations. This is yet another means to ensure that our game projects continue advancing well. I want to thank our Kestrel development team. Though we decided to discontinue the project for wider Remedy benefits, our team has done good work and provided us with valuable learnings. I also want to thank Tencent for their partnership so far. They have been very professional and supportive,” says Remedy’s CEO Tero Virtala.
REMEDY ENTERTAINMENT PLC
More information
Liisa Eloranta, Senior Investor Relations Specialist
Phone: +358 50 4334992
Email: liisa.eloranta@remedygames.com
Remedy in brief
Remedy Entertainment Plc is a pioneering, globally renowned video game company founded in 1995 and headquartered in Finland with an office in Stockholm, Sweden. Known for its story-driven and visually stunning action games, Remedy has created multiple successful, critically acclaimed franchises such as Control, Alan Wake and Max Payne. Remedy also develops its own Northlight game engine and tools technology that powers many of its games. Remedy’s shares are listed on Nasdaq Helsinki’s official list. www.remedygames.com
