JoWooD Productions Software AG has announced their acquisition of Canadian publisher DreamCatcher. The European publisher will now be expanding their grounds to North American shores with the acquisition of DreamCatcher, known for its adventure titles.
Albert Seidl, CEO of JoWooD Productions, said the acquisition was a deal bound to happen, "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."
Richard Wah Kan, President and CEO of DreamCatcher Inc., praised the deal. "DreamCatcher is very excited about joining forces with JoWooD. There are some incredible synergies that are now in place that will enable us to build a very strong global company. JoWooD possesses a great line-up of titles, supported by some dynamic brands and we are thrilled about helping to further grow those brands in North America. We offer very strong North American assets, including a leading position in Adventure game publishing, as well as an extensive retail distribution network that we have been building since our inception over 10 years ago."
Under the deal, DreamCatcher Inc. will continue to operate from their office in Toronto as a subsidiary of JoWooD. DreamCatcher will retain a 23% stake in the shared capitol of JoWooD once the deal is complete. Financial terms weren’t released at press time.
