The game codenamed Vanguard (“the game”), Remedy’s original intellectual property, is a free-to-play, co-operative PvE shooter that combines Remedy’s narrative expertise and action gameplay into an immersive multiplayer experience. The game is developed with the Unreal Engine for PC and console platforms. Remedy will develop and publish the game worldwide, excluding selected Asian markets, where Tencent will localize and publish the game.

The game’s development is currently in the proof-of-concept phase. Its development budget up to the end of the first year of live operations will be in the range of a typical Remedy AAA game budget. This development will be co-financed by Remedy and Tencent. In addition, Tencent will localize the game for the selected Asian markets and cover the related localization costs.

Remedy and Tencent will be responsible for their own publishing and game operating costs in their respective territories while sharing a portion of revenue to the other party after the recoupment of the development costs.

As part of the agreement, Remedy has also licensed Tencent worldwide rights to develop and publish a mobile version of the game. Tencent will cover the costs for developing and publishing the mobile version. The parties have agreed on a separate revenue sharing scheme for the mobile version.