Jo Woo D Entertainment - History

History

JoWooD Productions Software AG was founded in 1995 by Andreas Tobler with its headquarters in Liezen, Austria. It operated three divisions; Pinnacle Interactive, JoWooD Studios and Digital Media Limited and owned five subsidiaries; DreamCatcher Interactive, JoWooD Distribution Services, JoWooD Deutschland, JoWooD Iberica and Quantic Lab.

In August 2005, JoWood attempted to end their development agreement with developer Perception Pty because of a lack of quality on their "Stargate SG-1" product. JoWood carried out this action believing they own the licence for the game Stargate SG-1: The Alliance, something disputed by Perception. On 4 November 4, 2006, JoWooD announced the acquisition of DreamCatcher Games, in efforts to move to the North American gaming markets. In October 2009 it was announced that JoWooD has changed its name from JoWooD Productions Software AG to JoWooD Entertainment AG. At the same time JoWood also announced an agreement has been established between them and Valve Corporation, to make future JoWooD titles available via Steam.

On 7 January 2011, JoWood officially filed for bankruptcy and announced that the company will prepare for "a procedure of capital reorganization". However on 21 April 2011, JoWood announced that, unable to negotiate with potential investors, they are officially facing bankruptcy proceedings and have withdrawn their application for a recapitalization plan. In June 2011, JoWooD Entertainment and 95% of its subsidiary, Quantic Lab, was acquired by Wingefors Invest. All activities of the two companies will be taken over by Game Outlet. On August 16, 2011 Nordic Games Holding announced that it had acquired JoWood, its products and brands and some of the companies subsidiaries, including The Adventure Company. Following the acquisition it was announced that JoWood and the The Adventure Company will become publishing labels for Nordic Games GmbH, a wholly owned subsidiary of Nordic Games Holding.