Poland's CD Projekt to seek M&A targets in bid to become a top gamemaker

FILE PHOTO: A bird flies in front of the Cd Projekt logo at its headquarters in Warsaw, Poland January 21, 2020. Picture taken January 21, 2020. REUTERS/Kacper Pempel

WARSAW (Reuters) – Poland’s CD Projekt will actively look for merger and acquisition targets in its bid to become one of the top three video game makers in the world, it said on Tuesday.

Investors and players had expected the Polish studio behind Cyberpunk 2077 to present a plan to fix the game that was one of the most anticipated in 2020 but was bug-ridden when it was released in December.

The announcement of acquisition plans had not been expected in the strategy document published on Tuesday.

CD Projekt said shortly before publishing the strategy update that it had signed a letter of intent to take over Canadian development studio Digital Scapes.

The company, which did not reveal the deal’s value, said it had cooperated with the Vancouver-based game development studio since 2018. The Digital Scapes team employs “around a dozen experienced game creators”, CD Projekt said.

The Cyberpunk 2077 maker was due to hold a news conference later on Tuesday.

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