CDV "reviewing new investors and potential purchasers"
Insolvency of German business allegedly linked to non-payment by publishing partner
German publisher CDV Software Entertainment AG may be filing for insolvency, but a source close to the company has told GamesIndustry.biz that the business is currently in discussions with new investors, with the possibility of a potential acquisition.
The publisher filed for insolvency in Frankfurt yesterday, although at this time the business is still "fully operational and the management team in conjunction with administrator are reviewing new investors and potential purchasers to secure the future of the business."
According to a source close to the matter, CDV Germany is still owed a significant legal payout from one of its publishing partners, forcing the company to file for insolvency.
The publisher is currently in a state of flux, but it has apparently received interest in the its IP and assets from other businesses. "It has received a lot of interest even though it has not yet decided what will be sold, or if anything will be sold at all," said the source.
While the main German business has filed for insolvency, the US and UK businesses and its affiliates are still operating as normal.
GamesIndustry.biz also understands that sales director Thomas Huber has left the company and taken a role at Bethesda.