{"url":"https://newsforagent.com/news/2026-11-13/coffee-stain-chronicles-medieval-acquisition","markdown_url":"https://newsforagent.com/news/2026-11-13/coffee-stain-chronicles-medieval-acquisition.md","title":"Coffee Stain Buys Chronicles: Medieval IP for DKK 36.75 Million","headline":"Coffee Stain to Acquire Chronicles: Medieval Assets From Raw Power Games Bankruptcy Estate","description":"Coffee Stain agreed to pay DKK 36.75 million in cash for the Chronicles: Medieval IP and assets, with a new company 75% owned by the Swedish publisher.","section":"Mergers & Acquisitions","published_at":"2026-11-13T23:50:35+00:00","modified_at":"2026-11-13T23:50:35+00:00","author":"News Desk","key_takeaways":["Coffee Stain will pay DKK 36.75 million in cash for the Chronicles: Medieval intellectual property and related assets.","The buyer is a new company owned 75% by Coffee Stain and 25% by key members of the game's original development team.","Raw Power Games, the Copenhagen studio behind the game, was declared bankrupt on October 30, 2026."],"companies":[{"name":"Coffee Stain Group","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00heg77/coffee-stain-group","website":"https://coffeestain.com"},{"name":"Raw Power Games","is_primary":false,"profile_url":"https://akta.pro/company-profiles/00956bl/raw-power-games","website":"https://www.rawpowergames.com"}],"source":{"publisher":"TradingView","title":"Coffee Stain enters into agreement to acquire Chronicles: Medieval IP","url":"https://www.tradingview.com/news/modular_finance:ee09fe9a6d613:0-coffee-stain-enters-into-agreement-to-acquire-chronicles-medieval-ip/"},"other_sources":[],"tags":["Mergers & Acquisitions","Coffee Stain Group","Raw Power Games"],"body_markdown":"Coffee Stain Group AB has agreed to acquire the intellectual property rights and related assets of the game Chronicles: Medieval from the bankruptcy estate of Raw Power Games for DKK 36.75 million in cash, [TradingView](https://www.tradingview.com/news/modular_finance:ee09fe9a6d613:0-coffee-stain-enters-into-agreement-to-acquire-chronicles-medieval-ip/) reported. The assets will be held by a newly established company owned 75 per cent by Coffee Stain and 25 per cent by a small group of key members of the original development team.\n\n## Coffee Stain's Deal for Chronicles: Medieval\n\n[Coffee Stain Group](https://akta.pro/company-profiles/00heg77/coffee-stain-group) is a Swedish publicly listed multi-studio video game developer and publisher headquartered in Karlstad, with franchises including Valheim, Deep Rock Galactic, Satisfactory and Goat Simulator. [Raw Power Games](https://akta.pro/company-profiles/00956bl/raw-power-games) is the Copenhagen-based studio behind Chronicles: Medieval and was declared bankrupt on October 30, 2026.\n\nThe bankruptcy estate ran a sale process for the studio's assets, and Coffee Stain submitted the winning bid. Under an investment agreement with the new company, Coffee Stain will hold 75 per cent of the shares and fund the full purchase price as well as continued development of the game. The new company then entered an asset purchase agreement with the estate covering the intellectual property rights and all related assets. The purchase price excludes transaction costs.\n\n\"Chronicles: Medieval made a strong impression at its reveal at Summer Game Fest last year,\" said Anton Westbergh, CEO of Coffee Stain. \"We're happy to step in and help bring it to the players after the recent developments in Copenhagen.\"\n\nChronicles: Medieval is a medieval sandbox game in which players build and command armies, fight alongside their troops in large-scale battles and shape their own journey. It has been in development since 2022 and ranks among the top 30 most wishlisted games on Steam as of November 13, 2026. Its Steam page currently states a release window of 2027. Plesner Advokatpartnerselskab acted as legal M&A and strategic advisor, while Rosengrens and Moalem Weitemeyer acted as legal counsel to Coffee Stain.\n\n## Coffee Stain's Studio and Publishing Lineup\n\nAccording to akta.pro [company records](https://akta.pro/company-data), Coffee Stain's owned studios include Coffee Stain Studios in Skövde, Sweden, founded in 2010 and the original team behind Goat Simulator, Satisfactory and the Sanctum games, and Coffee Stain North in Stockholm, founded in 2013 with a team of 34 employees. The same records list Iron Gate Studio, developer of Valheim, with Coffee Stain Publishing as publisher. Coffee Stain's product launches in 2026 included the Satisfactory 1.2 Update in June and the Valheim 1.0 release with the Deep North biome expansion in September.\n\n## Coffee Stain's Path to the Listing\n\nCoffee Stain reported first-quarter net sales of SEK 253 million, up 37 per cent year-over-year, driven primarily by Satisfactory, while acknowledging that two recent releases underperformed expectations, Game Developer reported in August 2026. In the same month, Lars Wingefors, founder and CEO of Embracer and a board member and largest shareholder at Coffee Stain, purchased nearly 1.75 million shares in the company, Dagens industri reported. Coffee Stain completed a spin-off from Embracer Group and listed on Nasdaq First North Premier Growth Market in Stockholm on December 11, 2025.\n\n## When the Chronicles: Medieval Deal Closes\n\nThe transaction will be completed when the purchase price is paid to the bankruptcy estate, which is expected in the coming weeks. Completion is not subject to any other conditions. Further information about plans for the game, including the release timeline, will be communicated through the game's own channels.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}