Co-founder of CD Projekt Michał Kiciński has acquired GOG, the company's game storefront
Michał Kiciński, co-founder of CD Projekt, has acquired total ownership of the DRM-free video game storefront GOG. The digital video game platform was started by CD Projekt in 2008 with a stated mission to preserve "Good Old Games" (hence the GOG acronym). CD Projekt is known for its game studio CD Projekt Red, the developers The Witcher series and Cyberpunk 2077.
GOG said Kiciński bought 100 percent of its shares for PLN 90.7 million ($25 million). The acquisition was fully financed through committed funding secured at the sale’s closing and did not involve the sale of any of Kiciński’s CD Projekt shares.
The storefront will continue to operate independently under its new owner, sticking with its DRM-free philosophy and ongoing work to keep classic titles playable on modern PCs. After the sale, CD Projekt and GOG signed a distribution agreement that will see CD Projekt Red games continue to be listed on GOG.
While the press release for the sale did not list a reason, a report posted Monday under the Regulatory Announcements section of the CD Projekt website states "the sale of shares in GOG is consistent with the CD PROJEKT Group growth strategy, which assumes focusing on the core business of the Company, i.e., developing and publishing video games and related projects based on the owned and new franchises." The report also describes a "competitive sale process," implying that Kiciński may not have been the only bidder.
While it seems Kiciński will have a hands-on role in GOG after its acquisition, his current involvement at CD Projekt is less clear. He remains a significant shareholder but is not listed on the company's Management board or its Supervisory board.This article originally appeared on Engadget at https://www.engadget.com/gaming/pc/co-founder-of-cd-projekt-micha%C5%82-kicinski-has-acquired-gog-the-companys-game-storefront-174853415.html?src=rss
