Press release
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march 01, 2022 - 11 Bit Studios
11 bit studios Acquires a 40% Stake in Fool’s Theory
Two Polish teams join forces to supplement their unique capabilities
Warsaw, Poland - February 28th, 2022 - #11bitstudios is proud to announce that today an agreement for the purchase of 40% of the shares in #foolstheory has been signed. The first tranche of the purchase is PLN 2.62 million and the next one will be settled within 7 months of the launch of the RPG game - codenamed "Vitriol" - developed by #foolstheory and published by #11bitstudios. The amount of the second tranche, ranging between PLN 1.57 - 3.66 million, will depend on the user reviews on Steam and net revenues from the game.
11 bit studios is so confident in their investment in this talented team that, as publisher, they have already invested over PLN 17.5 million into the production of "Vitriol".
Jakub Rokosz, head of the Fool's Theory team, highlights the important foundation of this connection: "First of all, what struck me at the beginning, when we met, was our very similar approach to work. We share a similar philosophy of creation and values that guide us in creating games. Our team specializes and has experience in narrative games in which history carries a deeper message. This ties in perfectly with the 11 bit meaningful #entertainment philosophy".
Przemysław Marszał, #11bitstudios CEO, adds: "Complementing the above words, I will say that even the mentality or specificity of the teams is very similar in both parties. We are on the same wavelength. However, combining and achieving a result of synergy is also about complementing the possibilities on both sides. #foolstheory is a team with great experience developing RPGs. We don't have that, but we do have a dynamic marketing and publishing machine that perfectly complements the #vitriol project. In the long term, however, I imagine how you can combine the knowledge of creating complex RPGs with the original #11bitstudios IPs. What's more, #foolstheory remains a fully independent band. Creativity requires complete freedom and independence".
11 bit studios will be ready to share more information about the game #vitriol in just a few months!
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