Remedy Entertainment has signed an agreement with 505 Games under which Remedy and 505 Games will co-develop and co-publish Control 2 (formerly known as Codename Heron), a sequel to Remedy's award-winning game Control. Control 2's initial development budget amounts to EUR 50 million, and Remedy will retain the ownership of the game's intellectual property. The development, marketing, and post-launch investments as well as the future net revenues generated by the game will be equally split between 505 Games and Remedy.

The game will be available on PC, PlayStation 5, and Xbox Series X|S, and it will be built on Remedy's proprietary Northlight® engine and tools. Remedy will publish the game on the PC platform and 505 Games will publish it on the console platforms. The project is currently in concept stage. The critically acclaimed Control was published in 2019.

Since its release, Control was nominated for 11 BAFTA® Games Awards and received over 20 "Game of the Year" awards including IGN's 2019 Game of the Year. In June 2021, Remedy announced that the company had outlined high-level collaboration terms with 505 Games for a bigger-budget Control game. The agreement does not have an impact on Remedy's outlook for 2022.