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Deals

Poland's CD Projekt buys 60% stake in US-based The Molassess Flood Studio

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

GDANSK (Reuters) - Poland’s biggest video game producer CD Projekt signed an agreement to buy a 60% stake in a U.S.-based developer The Molassess Flood, the company said on Friday, without providing a value of the deal.

CD Projekt is looking for merger and acquisition targets in its bid to become one of the top three video game makers in the world.

“We are always on the lookout for teams who make games with heart,” CD Projekt’s chief executive, Adam Kicinski, said in a statement.

“The Molassess Flood share our passion for video game development. They’re experienced, quality-oriented, and have great technological insight. I’m convinced they will bring a lot of talent and determination to the group,” he added.

The Molassess Flood is known for survival and base-building games “The Flame in the Flood” and “Drake Hollow”.

Reporting by Anna Banacka; Editing by Anna Koper and Louise Heavens

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