Remedy Entertainment announced today that it signed an agreement with Tencent regarding the distribution, development, and licensing of its next co-op multiplayer game. 

Codenamed Vanguard (no, not the latest installment in the Call of Duty franchise), the Remedy game is still in development. But the two gaming giants have already settled on an agreement to split the various steps necessary at the international level. 

Developed with Unreal Engine for PC and console platforms, Vanguard will be a free-to-play, co-operative PvE shooter that “combines Remedy’s narrative expertise and action gameplay into an immersive multiplayer experience,” according to the company’s official statement.

Vanguard marks Remedy’s first entry into Games-as-a-Service business model, executed by our top tier team of free-to-play experts,” said Tero Virtala, CEO of Remedy Entertainment. “We are building something new and exciting for co-operative multiplayer space, on top of Remedy’s strengths. Expanding our capabilities to take on publishing responsibilities is the next step in the development of our company.”

Remedy has signed a global development/license/distribution agreement with Tencent for their co-op multiplayer game codenamed Vanguard (in development)

Tencent will localize and publish the game in Asian markets + develop and publish a mobile versionhttps://t.co/qoPbehipbK pic.twitter.com/hrq6ABrmyf

— Nibel (@Nibellion) December 28, 2021

The development of Vanguard will be co-financed by Tencent, which will localize and publish the game in “selected Asian markets.” Remedy has also licensed its partner worldwide rights to develop and publish a mobile version of the game, but Tencent will have to cover the developing and publishing cost for the mobile version of the title. As for the revenue of the game, both parties have agreed to share a portion of the profits with the other party after the recovery of development costs, but there will be a separate revenue scheme for the mobile version of Vanguard.

Virtala later added that Remedy is “excited” for the “long-term” partnership with Tencent, calling Vanguard a “global opportunity” that can be supported internationally by Tencent, which already is a sector leader in the Asian and mobile markets.