Officials from Austrian publisher and developer JoWooD Productions have announced that the company has entered into an agreement to acquire Canadian games publisher DreamCatcher, in an attempt to gain better access to the North American market.
The acquisition will involve a deal whereby JoWooD will increase its share capital by utilizing the existing authorized capital. The shareholders of Dreamcatcher will hold a 23 percent stake in the share capital of JoWooD after the closing of the transaction.
Well known for the Painkiller first person shooter series, JoWooD appear to be primarily interested in DreamCatcher’s graphic adventure titles which include the use of the official Agatha Christie license. The company also plans to use DreamCatcher’s existing distribution network to simultaneously release products in the West.
Under the terms of the agreement, DreamCatcher will become a wholly owned subsidiary of JoWooD and the company’s management team and employees will continue to operate from their office in Toronto, Canada.
"Acquiring DreamCatcher perfectly aligns with JoWooD’s strategy to deliver high-quality computer and video games globally. We are looking at DreamCatcher as our North American counterpart and there are numerous and important synergies waiting to be exploited by all of us" said Albert Seidl, CEO of JoWooD.