CD Projekt clarifies inaccurate takeover claims

CD Projekt clarifies inaccurate takeover claims

By Rob Crossley

October 23rd 2009 at 12:35PM

Witcher developerâ??s holding company now floats on the stock exchange

Polish developer CD Projekt claims that news items suggesting the studio has been purchased by IT firm Optimus are inaccurate.

“The truth is that Optimus didn’t takeover us,” a CD Projekt spokesperson told Develop. “We’ve gained control of Optimus by buying 50 per cent of their shares.”

New information sent by CD Projekt confirms that Optimus has signed a merger contract with the developer, whereby 50 per cent of Optimus’ stock have been transferred to CD Projekt’s owning group, CDP Investment.

“Legal results of the agreement are simple – CDP acquired 50 per cent of Optimus shares,” added the spokesperson, “which means we are now controlling the Optimus company and we are able to enter the stock exchange.”

The deal is valued at 63 million złoty, or $22.6 million.

“This transaction represents the full realization of the strategic goals that CD Projekt’s owners set for themselves,” said CDP Investment stockholder Adam Kiciński.

“Above all, we will become a publicly listed company, which denotes access to capital. That in turn will spur further company growth,” he added.

“The immediate financing we obtained through the deal will allow us to pursue our operational goals in troubled times. We have gained all this while retaining control of the business, which was essential to us.

“The added spice of the contract is that we are merging with a corporation that, like CD Projekt, has been at the center of the Polish computer market throughout its history

The owners of CDP Investment will retain control of the CD Projekt Group, read a separate statement.

The news comes weeks after speculation first suggested that Optimus was launching a full takeover of CDP Investment.

CDP Investment is the holding group which controls a number of companies beyond CD Projekt itself, including digital portal Good Old Games. Developer CD Projekt, which has offices in the Czech Republic as well as Warsaw, was responsible for the well-received RPG The Witcher.