Troubled German publisher JoWooD and Canadian adventure game publisher The Adventure Company have been acquired by Nordic Games for an undisclosed amount of cash. The two companies will become labels of the Nordic Games family, according to a GameIndustry.biz report. The new owner said that it plans to develop and invest in both company's core franchises including SpellForce, Painkiller, Panzer Elite and the popular Gothic series.
"This new venture will be a fresh start, and we will be introducing new systems, procedures and business ethics to ensure the company goes from strength to strength," said Lars Wingefors, CEO of Nordic Games. "This is the beginning of a new era and over the coming months product development will start on a variety of well loved and respected brands and products."
European publisher JoWooD filed for insolvency (bankruptcy) at the beginning of the year, with Nordic Games picking up its key brands in June.
Pelle Lundborg, Managing Director at Nordic Games Publishing added in a comment to the GI.biz story that there is an all new management team in place at its headquarters in Vienna. The answer came in response to questions about keeping on JoWooD's management team..