PCF Group S.A. established a new U.S.-based subsidiary, People Can Fly Chicago, LLC, to expand its international development capacity.
See it on page 1The subsidiary was formed to absorb the development team from Phosphor Games, LLC following an acquisition process that began with a letter of intent on March 31, 2021.
See it on page 1People Can Fly Chicago, LLC was officially incorporated under Delaware law on April 6, 2021.
See it on page 1PCF Group S.A. publicly disclosed the acquisition and subsidiary formation on April 23, 2021, after the transaction was finalized.
See it on page 1The company delayed the public announcement of the acquisition to comply with EU Market Abuse Regulations and to prevent potential interference during the negotiation phase.
See it on page 1PCF Group S.A. issued a formal regulatory disclosure regarding the establishment of a new subsidiary, People Can Fly Chicago, LLC, as part of its broader corporate growth strategy. The primary purpose of this disclosure is to reveal previously delayed inside information concerning the expansion of the company’s development capabilities in the United States. This action follows the successful acquisition of the development team from Phosphor Games, LLC, which served as the catalyst for making the information public on April 23, 2021.
The expansion originated on March 31, 2021, with a letter of intent signed between PCF Group and Chicago-based Phosphor Studios and Phosphor Games. Under the laws of Delaware, the new entity was officially incorporated on April 6, 2021. The strategic intent behind this formation was to create a dedicated vehicle for absorbing the Phosphor Games team, thereby strengthening PCF Group’s international presence and internal production capacity.
The decision to delay the public announcement was made in accordance with European Union Market Abuse Regulations to protect the company’s legitimate interests. Management concluded that immediate disclosure during the negotiation phase could have jeopardized the transaction by inviting third-party interference or negatively impacting the terms of the deal. Furthermore, the company sought to prevent public misinformation, as the final outcome of the acquisition remained uncertain at the time of the subsidiary's formation. By maintaining confidentiality and monitoring access to this information, the company ensured market integrity until the acquisition was finalized.
