PlayWay S.A. acquired a 97.33% controlling interest in Woodland Games Sp. z o.o. on October 20, 2017, through a 292,000 PLN capital injection.
See it on page 1The agreement includes a performance-based equity restructuring clause that could reduce PlayWay's ownership to 59.11% if the studio's debut project, Neon, achieves profitability within 18 months of its PC release.
See it on page 1Upon meeting the profitability milestone, the founding partners' collective stake will increase, with Paweł Kozakowski’s individual share rising to 34.82%.
See it on page 1The partnership is designed to leverage PlayWay's incubation model to facilitate the completion and commercial launch of the title Neon.
See it on page 2This transaction reflects a broader industry strategy of utilizing milestone-based equity incentives to align publisher interests with independent development talent.
See it on page 2Woodland Games is based in Włocławek, Poland, and was founded by Paweł Kozakowski, Paweł Henke, and Jakub Trzebiński.
See it on page 1PlayWay S.A. has finalized an investment agreement to acquire a controlling interest in Woodland Games Sp. z o.o., a development studio based in Włocławek, Poland. This strategic move, executed on October 20, 2017, involves a capital injection of 292,000 PLN by PlayWay. Following the initial capital increase, PlayWay holds a dominant 97.33% stake in the company, while the three founding partners—Paweł Kozakowski, Paweł Henke, and Jakub Trzebiński—retain the remaining minority shares.
The agreement includes a performance-based equity restructuring clause tied to the commercial success of the studio's debut project, currently titled Neon. If the game generates a profit exceeding all production and marketing costs within 18 months of its release on the PC platform, Woodland Games will issue new shares to the founding partners. This conditional adjustment would significantly redistribute ownership, reducing PlayWay’s stake to 59.11% while increasing the founders' collective holdings, most notably raising Paweł Kozakowski’s share to 34.82%.
This investment aligns with PlayWay’s broader business model of incubating specialized development teams to expand its portfolio of PC titles. The primary objective for Woodland Games is the completion and launch of Neon, followed by the development of subsequent gaming projects. The transaction highlights the industry trend of using milestone-based equity incentives to align the interests of major publishers with independent development talent.
