Swedish publisher Coffee Stain Group has signed an agreement to acquire the intellectual property rights and all related assets of Chronicles: Medieval, the medieval sandbox game developed by Copenhagen-based Raw Power Games.
According to information Oyun Günlüğü received from Coffee Stain, Raw Power Games was declared bankrupt on October 30, 2026. Coffee Stain submitted the winning bid in the sale process the bankruptcy estate carried out afterwards. The purchase price is 36.75 million Danish kroner in cash, excluding transaction costs.
Coffee Stain will own 75 percent of the new company
The rights will not go to Coffee Stain directly but to a newly established company. Coffee Stain will hold 75 percent of its shares, while the remaining 25 percent will belong to a small group of key members of the game’s original development team. Coffee Stain will fund the full purchase price as well as the game’s continued development.
The new company starts with a limited cost base, which is expected to grow gradually as the studio takes shape, and Coffee Stain will report the financial impact in its interim reports. The deal will be completed once the purchase price is paid to the bankruptcy estate, expected in the coming weeks, and is not subject to any other conditions.
Finishing the game is the short-term focus
Coffee Stain CEO Anton Westbergh noted that Chronicles: Medieval made a strong impression at its Summer Game Fest reveal last year. He said the company is happy to step in and help bring the game to players after the recent events in Copenhagen, that it sees the title as a potential strong long-term IP for the group, and that the short-term focus will be on working out how best to complete the game together with the new company’s management team.
Chronicles: Medieval is among Steam’s most wishlisted games
Chronicles: Medieval lets players build and command armies, fight alongside their troops in large-scale battles and shape their own journey. In development since 2022, it ranks among the top 30 most wishlisted games on Steam. While its Steam page currently lists a 2027 release window, further plans, including the release timeline, will be shared through the game’s own channels in due course.
