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So I am located in Denmark and "we" are not very famous for videogame development, with the exception of IO InterActive which is currently owned by no other than Square Enix. But "we" did get things made and there are actually quite a few interesting stories out there, at least in my humble opinion, so I hope this will be the first of many articles about game development out of Denmark.
The first company I have decided to take a look at was a company called "InterActive Vision A/S", I say was because the company ceased to exist back in 2005, after a few turbulent years. The company dates back to 1989 though. Initially they developed and published games for PC and Amiga, later on they went on to create games for Playstation, Xbox and Gameboy.
After almost 12 years of great progress, the company went bankrupt early April 2005 after a series of "unfortunate" events. The companys annual report from 2004 draws a picture of a company in problems due to "resource" problems in the finance department, leading to errors in internal procedures concerning payment of royalties and more. These problems actually resulted in the annual report not complying with the Danish accounting act laws, a huge red flag.
The annual report also shows a loss of 4 Million Danish kroner, roughly €533.000 (euros) in 2003/2004, versus a profit of 925.000 Danish kroner (€123.000) in 2002/2003. This was due to currency exchange losses, a large customer who ceased to exist and finally license issues with another customer, which resulted in loss of payment for the product InterActive Vision had created.
In an attempt to save the company, staff cutbacks were carried out. InterActive Visions had offices in Denmark, Germany, Poland, Hungary, Slovakia, Lithuania and USA, although the latter one was just a single sales person. During 2004 the Polish "production" subsidiary had been "cut in half" and 25 employees were left, this was done with though the annual report mentions that the subsidiary was doing a great job, thanks to great local management. During 2003/2004 the subsidiaries in Slovakia and Hungary had been closed altogether.
In closing remarks, the InterActive Vision management states that they were now on the right track and that they were confident that the past year was just something out of the ordinary. This annual report was dated November 1st, 2004 and the company went bankrupt some 6 months later. InterActive Vision was finally dissolved on January 26th, 2006, according to legal records, although their website received its final update on July 21st 2006 with the announcement of Pacific Warriors II: Dogfight! for the Sony PSP. The PSP version was never published.
The InterActive Vision assets were sold to an American company, Avantgarde Technology Holding Inc, located in Baltimore.