Paradox Interactive AB (publ)
Paradox Interactive AB (publ) is a Swedish public limited company registered in Stockholm under organisation number 556667-4759, first entered in the Swedish Companies Registration Office (Bolagsverket) register in October 2004 and currently recorded with active status. The company develops and publishes strategy, management and simulation video games for PC and other platforms, with its catalogue including the Europa Universalis, Crusader Kings, Hearts of Iron, Stellaris, Cities: Skylines and Vampire: The Masquerade franchises. Its registered office is at Magnus Ladulåsgatan 4 in Stockholm, and its principal activity is classified under SNI 58210, publishing of computer games.
Paradox Interactive AB (publ)’s shares, under the ticker PDX and ISIN SE0008294953, began trading on Nasdaq First North Premier in Stockholm on 31 May 2016 and were later traded on Nasdaq First North Premier Growth Market; the shares were admitted to trading on the Nasdaq Stockholm Main Market on 9 June 2026. The company reported consolidated net revenue of approximately SEK 2,046 million for the 2022 financial year, an increase of 38.1% from 2021, with consolidated operating profit of about SEK 552 million, up 59% year-on-year.
The group develops titles in-house through Stockholm-based Paradox Development Studio AB and through majority-owned studios including Triumph Studios in the Netherlands, Iceflake Studios in Finland and Paradox Tinto in Spain, while also publishing games created by independent third-party developers. In 2023 and 2024 the company divested its interests in two previously affiliated studios, Hardsuit Labs and Harebrained Schemes, refocusing its portfolio on its core grand-strategy and management-simulation franchises.
- Company fundamentals
- Corporate linkage & group structures
- Digitized company financials
- Firmographics — websites, social profiles, revenue and employee estimates
Shareholders
5
Shareholders of Paradox Interactive AB (publ)
As a company listed on Nasdaq Stockholm, Paradox Interactive AB (publ) discloses its major shareholders rather than a complete shareholder register. According to the company’s own investor-relations disclosure dated 31 July 2026, total share capital comprised 105,623,025 shares. The largest disclosed shareholder is WesterInvest AB, an investment vehicle associated with co-founder and CEO Fredrik Wester, holding 35,277,274 shares (33.4% of capital and votes). Other major disclosed holders include Investment Aktiebolaget Spiltan (16,639,534 shares, 15.8%), Goldman Sachs International, W8IMY (10,657,005 shares, 10.1%, a nominee/custodian holding), J.P. Morgan SE, Luxembourg Branch (7,707,334 shares, 7.3%, nominee/custodian), Cidro Förvaltning AB (5,435,803 shares, 5.2%), Alecta Tjänstepension Ömsesidigt (4,150,000 shares, 3.9%), State Street Bank and Trust Co (4,087,036 shares, 3.9%, nominee/custodian), BNP Paribas SA Brussels (3,550,000 shares, 2.9%, nominee/custodian), Dalex i Stockholm Aktiebolag (3,091,437 shares, 2.0%) and Swedbank Robur Fonder AB (1,753,048 shares, 1.7%). Remaining shareholders collectively hold 13,274,554 shares (12.6%). All shares are ordinary shares carrying equal capital and voting rights.
Ultimate beneficial ownership
Fredrik Wester, co-founder and CEO of Paradox Interactive AB (publ), is identified by the company as the individual behind WesterInvest AB’s direct 33.4% stake, the company’s own disclosed largest holding. No further ownership-chain calculation is required since WesterInvest AB is the directly registered holder. No other individual ultimate beneficial owner above disclosure thresholds is identified in the company’s shareholder reporting.
Data availability
Disclosure is major shareholders only: Paradox Interactive AB (publ), as a Nasdaq Stockholm-listed company, publishes its ten largest shareholders and a residual "other shareholders" category rather than its full shareholder register. The data reflects the position on 31 July 2026 and will change with subsequent trading and flagging notifications.
Sources
- Paradox Interactive AB (publ), "Owners", https://www.paradoxinteractive.com/investors/ownership-structure, data as of 31 July 2026, retrieved 18 September 2026.
Registry feed — rows exactly as filed with Swedish Companies Registration Office (Bolagsverket), including entries the profile above does not cover.
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| American Century ETF Trust-Avantis International Small Cap Value ETF | 15.9% | Swedish Companies Registration Office (Bolagsverket) | |
| Avantis International Small Cap Value ETF | 4.7% | Swedish Companies Registration Office (Bolagsverket) | |
| iShares Core MSCI EAFE ETF | 3.8% | Swedish Companies Registration Office (Bolagsverket) | |
| Vanguard Whitehall Funds-International Explorer Fund | 2.9% | Swedish Companies Registration Office (Bolagsverket) | |
| iShares Core MSCI Total International Stock ETF | 1% | Swedish Companies Registration Office (Bolagsverket) |
Officers
22
Directors and officers of Paradox Interactive AB (publ)
According to Paradox Interactive AB (publ)’s own corporate-governance disclosure, the board currently comprises seven serving members. The chair is Håkan Sjunnesson (elected 2021). Other current directors are Fredrik Wester (elected 2010; also CEO and President since September 2021, having previously served as CEO from 2003 to 2018), Mathias Hermansson (elected 2019), Linda Höglund (elected 2020), Andras Vajlok (elected 2021), Lars Jörnow (elected 2026) and Kaisa Salakka (elected 2026), plus Gustav Palmqvist, an employee representative appointed by the Unionen trade union since 2025. Nationality is not disclosed for any board member in the sources reviewed. Separately, Bolagsverket-sourced registry data on file records earlier director appointments, including Lars Anders Larsson and Peter Ulf Sederowsky (both recorded resigned), and Jan Anders Fredrik Lovén (recorded resigned); this registry extract is a historical filing snapshot and is not used here to override the company’s current governance disclosure.
Recent officer changes
- Lars Jörnow and Kaisa Salakka were elected to the board in 2026 (source: company governance page).
- Gustav Palmqvist was appointed as the Unionen employee representative on the board in 2025 (source: company governance page).
- Fredrik Wester was reappointed CEO and President in September 2021, succeeding the prior CEO and stepping down as Chairman at that time (source: company press release).
Data availability
Current-only: the board composition reflects Paradox Interactive AB (publ)’s own governance disclosure as retrieved on 18 September 2026. Bolagsverket registry filings provide historical director records but do not disclose nationality or country of residence, and role/occupation fields in that registry data are limited to "Director" without further detail.
Sources
- Paradox Interactive AB (publ), "The Board of Directors", https://www.paradoxinteractive.com/our-company/corporate-governance/the-board-of-directors, retrieved 18 September 2026.
- Paradox Interactive AB (publ), press release "Paradox Interactive AB (publ) changes CEO and Chairman of the Board", https://www.paradoxinteractive.com/media/press-releases/press-release/paradox-interactive-ab-publ-changes-ceo-and-chairman-of-the-board, retrieved 18 September 2026.
Registry feed — rows exactly as filed with Swedish Companies Registration Office (Bolagsverket), including entries the profile above does not cover.
Group Structure
Group structure of Paradox Interactive AB (publ)
Paradox Interactive AB (publ) is the ultimate parent company of its group. It has no disclosed parent company, and its shares are widely held by investors on Nasdaq Stockholm with no single shareholder holding full ownership or control (see Shareholders section). Based on the company’s own announcements, verified subsidiaries and studios operated by the group include Paradox Development Studio AB in Stockholm, Sweden; Triumph Studios B.V. (held via Triumph Holding B.V.) in Delft, Netherlands, acquired in 2017; Iceflake Studios Oy in Tampere, Finland, acquired in 2020; and Paradox Tinto S.L. in Barcelona, Spain, established in 2020. The group therefore operates development studios in Sweden, the Netherlands, Finland and Spain in addition to its Stockholm registered office. Individual ownership percentages for these subsidiaries are not separately disclosed in the sources reviewed beyond confirmation of a controlling equity interest.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| Paradox Development Studio AB | Sweden | 556723-5378 | Direct subsidiary | Ownership percentage not disclosed | Active | 18 Sep 2026 |
| Triumph Holding B.V. | Netherlands | 65865006 | Direct subsidiary | Ownership percentage not disclosed | Active | 18 Sep 2026 |
| Triumph Studios B.V. | Netherlands | 24280793 | Indirect subsidiary (via Triumph Holding B.V.) | Ownership percentage not disclosed | Active | 18 Sep 2026 |
| Iceflake Studios Oy | Finland | 2139029-8 | Direct subsidiary | Ownership percentage not disclosed | Active | 18 Sep 2026 |
| Paradox Tinto S.L. | Spain | B01639236 | Direct subsidiary | Ownership percentage not disclosed | Active | 18 Sep 2026 |
Recent structural changes
- Paradox Interactive AB (publ) divested its minority (33%) shareholding in Hardsuit Labs, Inc. to Keywords Studios plc in May 2023 (source: company press release).
- Paradox Interactive AB (publ) and Harebrained Schemes (Harebrained Holdings Inc.) ended their ownership relationship by mutual agreement effective 1 January 2024 (source: company press release).
Data availability
Partial: individual ownership percentages for subsidiaries are not separately disclosed by the company. This overview reflects only relationships confirmed through Paradox Interactive AB (publ)’s own press releases and does not represent a complete corporate-linkage register; unrelated internally-sourced registry data referencing Hardsuit Labs and Harebrained Holdings as group entities is outdated and has been superseded by the divestments noted above.
Sources
- Paradox Interactive AB (publ), press releases: "Paradox Interactive Acquires Finland-based Iceflake Studios"; "Paradox Interactive Founds New Studio in Barcelona"; "Paradox Interactive sells its shareholding in Hardsuit Labs to Keywords Studios"; "Harebrained Schemes and Paradox Interactive to part ways", https://www.paradoxinteractive.com/media/press-releases, retrieved 18 September 2026.
Paradox Interactive AB (publ)
Sweden
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Frequently Asked Questions
What does Paradox Interactive AB (publ) do?
Develops and publishes strategy, management and simulation video games, including the Europa Universalis, Crusader Kings, Hearts of Iron, Stellaris, Cities: Skylines and Vampire: The Masquerade franchises.
Who owns Paradox Interactive AB (publ)?
Major shareholders only: WesterInvest AB holds 33.4%, Investment AB Spiltan 15.8%, Goldman Sachs International 10.1% (nominee), as of 31 July 2026.
Who is Paradox Interactive AB (publ)'s UBO (Ultimate Beneficial Owner)?
Fredrik Wester, co-founder and CEO, is the disclosed ultimate beneficial owner via WesterInvest AB's direct 33.4% stake.
What is Paradox Interactive AB (publ)'s company registration number?
Paradox Interactive AB (publ)'s registration number is 5566674759, filed with Swedish Companies Registration Office (Bolagsverket) in Sweden. Its current status on the register is active.
Is Paradox Interactive AB (publ) still an active company?
Paradox Interactive AB (publ)'s status on Swedish Companies Registration Office (Bolagsverket) is listed as active.
What is Paradox Interactive AB (publ)'s registered address?
The registered address on file for Paradox Interactive AB (publ) is Stockholm, Sweden.
What legal structure is Paradox Interactive AB (publ) registered as?
Paradox Interactive AB (publ) is registered as a Private limited company (Ltd.) in Sweden.
What is Paradox Interactive AB (publ)'s revenue?
Consolidated net revenue of approximately SEK 2,046 million for FY2022, up 38.1% year-on-year, with operating profit of about SEK 552 million.
Is Paradox Interactive AB (publ) listed on a stock exchange?
Listed on Nasdaq Stockholm as PDX (ISIN SE0008294953); admitted to the Nasdaq Stockholm Main Market on 9 June 2026, after trading on Nasdaq First North Premier Growth Market since 31 May 2016.
Who are the officers/directors of Paradox Interactive AB (publ)?
Board chaired by Håkan Sjunnesson; CEO and director Fredrik Wester; five further directors including one employee representative, per the company's 2026 governance disclosure.
Does Paradox Interactive AB (publ) have a parent company or subsidiaries?
Ultimate parent of the group; verified subsidiaries include Paradox Development Studio AB (Sweden), Triumph Studios B.V. (Netherlands), Iceflake Studios Oy (Finland) and Paradox Tinto S.L. (Spain).
Can Zavia monitor changes to Paradox Interactive AB (publ)'s ownership over time?
This profile reflects a point-in-time snapshot from Swedish Companies Registration Office (Bolagsverket). Zavia's monitoring API can track changes to Paradox Interactive AB (publ)'s registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access Paradox Interactive AB (publ)'s data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including Sweden, so records like Paradox Interactive AB (publ)'s registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from Swedish Companies Registration Office (Bolagsverket) and was last synced on 18 September 2026.