Coffee Stain Group has signed an agreement to acquire Chronicles: Medieval’s intellectual property and related assets from Raw Power Games’ bankruptcy estate. The November 14 announcement puts the cash purchase price at DKK 36.75 million, excluding transaction costs. Completion is expected in the coming weeks when payment is made.
Copenhagen-based Raw Power Games was declared bankrupt on October 30, 2026. Coffee Stain submitted the winning bid in the subsequent asset sale. The arrangement continues development through a new company.
Coffee Stain will own 75% of the new company, with a small group of key original developers holding the remaining 25%. Coffee Stain will fund the full asset purchase price and continued development. The new company will acquire the rights and related assets from the bankruptcy estate.
CEO Anton Westbergh says the immediate priority is to work with the new company’s management on how best to complete the project. Coffee Stain sees long-term potential in the game but has not announced a revised release schedule as part of the agreement. Further plans will come through the game’s own channels.
Chronicles: Medieval is a medieval sandbox in which players build and command armies while fighting alongside their soldiers in large-scale battles. It has been in development since 2022 and was among Steam’s thirty most-wishlisted games when the deal was announced.
The Steam page currently lists a 2027 release window. That listing is distinct from the development and release plans the new team will communicate later.
Sources: Coffee Stain’s acquisition agreement announcement · Steam.
