LegalPlayWay
Current Report No. 28/2016: Acquisition of Shares in Code Horizon Sp. z o.o.
15 Dec 20161 pages~1 min full read
PlayWay S.A. acquired a 60% majority stake in the Gliwice-based studio Code Horizon Sp. z o.o. on December 15, 2016.
The acquisition was finalized through a 700,000 PLN cash contribution toward an increase in Code Horizon's share capital.
The primary objective of the investment is to fund the development of a new PC title, Gold Digger Simulator.
Code Horizon will serve as a technical resource for the PlayWay group, specifically tasked with developing console ports for PlayWay S.A. and its subsidiaries.
This transaction is part of a broader corporate strategy to expand PlayWay's multi-platform reach and internal technical capabilities.
PlayWay S.A. has finalized an investment agreement to acquire a majority stake in the Gliwice-based development studio Code Horizon Sp. z o.o. This transaction, executed on December 15, 2016, involved a cash contribution of 700,000 PLN toward an increase in the share capital of the target company. Upon the formal registration of this capital increase in the National Court Register, PlayWay S.A. will hold a 60% ownership interest in Code Horizon.
The primary objective of this capital injection is to fund the production of a new PC title currently titled Gold Digger Simulator. Beyond original game development, the strategic partnership positions Code Horizon as a technical resource for the broader PlayWay capital group. The studio is tasked with developing console ports for various titles produced by PlayWay S.A. and its other subsidiaries, thereby expanding the group's multi-platform reach and technical capabilities.
This acquisition reflects a specific expansion strategy within the Polish game development sector during late 2016. By integrating Code Horizon into its corporate structure, PlayWay S.A. secures both a new intellectual property prospect and dedicated internal resources for console porting. The transaction was disclosed in accordance with market abuse regulations regarding inside information, marking a formal step in the investment process initiated earlier that year.
