Overview
- Black Forest Games completed a management buyout and left THQ Nordic and Embracer Group on Wednesday, making the studio independently owned by its leadership.
- The studio immediately became a founding co‑owner of Third Signal, a new developer group that says it will give small teams resources and creative freedom.
- Black Forest and Third Signal have said the studio will keep working with THQ Nordic on development projects despite the change in ownership.
- The financial terms of the buyout and any transfer of rights were not disclosed by either party in their announcement.
- Black Forest was acquired by THQ Nordic in 2017 and weathered Embracer’s later restructuring and 2024 layoffs, so the move could let the team pursue smaller, original projects and new partnerships.