Poland's CD Projekt to seek M&A targets in bid to become a top gamemaker
Reuters
Published Mar 30, 2021 12:12PM ET
Updated Mar 30, 2021 12:55PM ET
WARSAW (Reuters) -Poland's CD Projekt will actively look for merger and acquisition targets in its bid to become one of the top three video game makers in the world, it said on Tuesday.
The maker of Cyberpunk 2077, one of the most anticipated and derided games of 2020, also announced plans to transform its studio and change the way it develops new products, so that it can start its next high-budget AAA games production in 2022.
"We are focused on large-scale transformation," Michal Nowakowski, CD Projekt board member told a conference call.
The company also said it plans free downloadable content (DLC) for Cyberpunk, which was highly expected by investors and players, who also had expected the Polish studio to present a plan to fix the game, which was bug-ridden when it was released in December.
The announcement of acquisition plans had not been expected in a strategy document published on Tuesday.
CD Projekt said shortly before publishing the strategy update that it had signed a letter of intent to take over Canadian development studio Digital Scapes.
The company, which did not reveal the deal's value, said it had cooperated with the Vancouver-based game development studio since 2018.
The Digital Scapes team employs "around a dozen experienced game creators", CD Projekt said.
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Written By: Reuters
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