Swedish games firm Enad Global 7 (EG7) is shutting down UK developer Antimatter Games. In a release on the company's investor relations portal, the firm said that this was the result of of exploring "various strategic options".
These included selling the studio, third-party publishing deasl for Antimatter Games' current project, IGI Origins. EG7 says that closing down the studio will reduce its annual costs by SEK 50 million ($4.6 million).
There will be a one-off cost of between SEK 15 million ($1.4 million) and SEK 25 million ($2.3 million) related to closing the studio.
According to LinkedIn, Antimatter Games employs 52 members of staff. EG7 has begun the consultation process, with the studio likely to close fully in the summer. "The Group evaluated various strategic options for AMG, including work-for-hire (WFH), studio sale, and third-party publishing partnerships for IGI, the title AMG has been developing over the last few years," EG7 wrote. "However, these efforts have not produced sufficient traction within the Group’s target timeline.Read more on pcgamesinsider.biz
Are you looking for the latest updates in the world of gaming? Look no further than Game Bastion! We are your ultimate source for game news, reviews, and insights on the hottest titles in the industry. Our team of gaming experts is dedicated to providing you with the most accurate and up-to-date news on the latest releases and developments in the gaming world.
From the latest consoles to PC gaming and mobile games, we cover it all. Whether you're a hardcore gamer or a casual player, we have something for everyone. Our in-depth reviews and analysis will help you make informed decisions about your next gaming purchase, and our insider news and interviews with developers will give you a behind-the-scenes look at the gaming industry.
Stay ahead of the curve with our comprehensive coverage of gaming events, conferences, and expos. Our team is always on the ground, bringing you the latest news and updates straight from the source. At Game Bastion, we're passionate about gaming, and we know you are too.
That's why we're committed to bringing you the best game news and insights, so you can stay on top of the latest trends and developments in the gaming world. Join our community today and stay up-to-date with the latest in game news!