505 Games today announced that they've signed a deal with Spanish developer MercurySteam to co-publish and develop their next game.

Italian publisher 505 Games has found its next big project. The publisher behind Control, Dead By Daylight, and Payday 2 among others is turning its sights west to Spain. Specifically, the team has signed a co-publishing and development deal with MercurySteam. Fresh off the triumphant Metroid Dread, MercurySteam is prepping a new game for a multiplatform global release.

Not many details were provided about this new project, but we do know it'll be codenamed 'Project Iron' and will be a third-person action-RPG set in a dark fantasy universe. It is likely a new IP considering that it'll be co-owned by both 505 Games parent company Digital Bros and MercurySteam. It'll launch on both PC and consoles, though what consoles was not confirmed.

“We are thrilled to work with the team at MercurySteam, a proven studio that over the years has created numerous phenomenal IPs – including the recent hit release Metroid Dread in partnership with Nintendo” commented Raffi and Rami Galante, co-CEOs of Digital Bros Group. “With MercurySteam’s creative vision and talent and 505 Games extensive experience, gamers can expect a high-quality, captivating and engaging videogame.”

Be sure to check back for more details about Project Iron as development continues. In the meantime, be sure to check out our review for MercurySteam's latest title, Metroid Dread, to see what the studio can do.