JoWooD acquires Painkiller publisher

Austrian publisher JoWooD Productions has acquired DreamCatcher Inc., the Toronto-based publisher behind titles such as Painkiller, Syberia and Agatha Christie: And Then There Were None.

Under the terms of the deal, DreamCatcher will become a wholly owned subsidiary and will continue to operate from the same location with the same staff and management team.

JoWood will increase its share capital by utilising existing authorised capital. The newly issued shares will be formally subscribed for DreamCatcher shareholders, who will hold a 23 per cent stake in JoWood's share capital.

"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 JoWooD CEO Albert Seidl.

"DreamCatcherâs strong brands and licenses such as Painkiller, Agatha Christie and others significantly contributed to last yearâs turnover of CAD 25 million

(EUR 17.5 million) respectively."

DreamCatcher president Richard Wah Kan added, "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."

In a statement, JoWooD said it anticipates "a substantial increase in the overall business volume" as a result of the deal, which is subject to anti-trust approvals.