People Can Fly Announces PCF Chicago
People Can Fly (PCF Group) announced that they will be taking over the Phosphor Games development team with a newly established subsidiary – People Can Fly Chicago. This initiative furthers PCF’s expansion plans as their seventh worldwide studio. PCF provides full AAA development as evidenced by their recent Outriders game with Square Enix and their announced new projects under the codenames Project Dagger with Take-Two Interactive and Project Gemini with Square Enix.
PCF Group CEO Sebastian Wojciechowski commented, “Establishing PCF Chicago is an execution of our strategy, announced during PCF Group’s recent IPO. With the variety of ongoing projects, we need well-seasoned, ambitious professionals to bring our plans to fruition. Considering Phosphor’s team experience and quality, I’m sure they will be a great addition to the PCF family and will facilitate our growth.”
Justin Corcoran, CEO at Phosphor Games, added, “For the past six years, the DDM team have been a key part of our business development strategy. They stay up to date on the fast-moving interactive industry and all its players, and constantly open doors to opportunities we didn’t know existed. The People Can Fly relationship is a perfect example.”
DDM’s Investment Services division was proud to work with both groups to make this transaction possible. As Wojciechowski indicated, “We will be looking to further expand the PCF Group through mergers and acquisitions and appreciate strategic support in this effort from DDM.”
With PCF Group’s additional acquisition of Game On Creative, Inc. in Montreal, People Can Fly now has a worldwide staff of over 350 people, further cementing their status as a top independent, Unreal specialist, full-service development studio.