 |
Changes of ownership within the CD Projekt group concentrating on Poland, Gog.com and Witcher brand. |
International Info, Posted: Monday, May 17, 2010, 0:00 AM
CD Projekt announces that as of April 29, 2010, CD Projekt Czech S.R.O, a Prague-based company, which operates in Czech Republic and Slovakia, and CD Projekt Magyarorszag KFT, Budapest-based company, which operates in Hungary, have changed ownership as a result of sale and are no longer part of the CD Projekt group. The Hungarian company underwent a management buy-out and continues distribution of video games in cooperation with CD Projekt Polska. The Czech company became the property of an external buyer.
The decision to sell the two companies came as part of the CD Projekt Group’s current strategy, which is based on three principles: focusing on the Polish market in the distribution field, investing in the development of digital distribution via GOG.com, and further expansion of the video game development operations. Selling the Czech and Hungarian companies is the last stage of organization changes within the CD Projekt Group and its purpose is to limit operations in high-risk markets with limited revenue potential. These changes will allow the group to focus on more profitable and less risky operations in order to achieve better financial results in the coming years.
This decision was also influenced by the diminishing commercial potential of the two markets with no prospect of improvement in the immediate future, resulting in low profitability of the companies’ operations.
CD Projekt would like to thank their licensing and commercial partners for more than 8 years of cooperation in the Czech and Slovak markets and more than 3 years of cooperation in the Hungarian market. We would also like to thank the employees of the two companies, who have put a lot of work and effort into the expansion of the video game market in the Czech Republic, Slovakia, and Hungary over the last few years. Our special thanks go to all customers – Czech, Slovak, and Hungarian gamers, who have continuously showed us their appreciation and whose trust and support allowed us to bring change to the video game market – we would hate to lose touch with you, so please visit us at GOG.com, where we constantly plan to expand the games catalogue also for gamers from Czech, Slovakia and Hungary. Once again big thanks!
CD PROJEKT Management