Saints Row Developer Volition Games Has Been Shut Down

gameinformer.com:

Volition Games, the studio behind franchises such as Saints Row and Red Faction, has been shut down effectively immediately. 

The news first broke on X.com, with several employees posting that they had been let go and that the studio was no more. In an official statement on the studio’s website, Volition states that Swedish holdings company Embracer Group, which acquired the studio in 2018, has forced it to cease operations as part of Embracer's company-wide restructuring. Volition’s full farewell post reads as follows:

Embracer’s restructuring is the result of the disastrous collapse of a proposed $2 billion partnership with Savvy Games Group, a Saudi Arabian-funded organization, who backed out of the deal in May. This caused Embracer’s share value to plummet, forcing the mega-corporation into cost-cutting mode after it spent years acquiring a multitude of game studios and entertainment IPs, such as The Lord of the Rings.

Embracer CEO Lars Wingefors announced in an open letter plans to make the company a “leaner, stronger and a more focused, self-sufficient company,” which included plans to close or sell off some of its game studios, along with halting projects in development and other cost-saving measures. Unfortunately, Volition has become one of the first casualties of this restructuring.

Volition's demise comes after the company celebrated its 30th anniversary as a studio in June. Beginning with the Descent series (released under Voliton's original name, Parallax Software) and releasing cult favorites such as Summoner, it found major success with the Red Faction franchise during the 2000s, peaking with the well-received Red Faction: Guerilla in 2009. Volition would kick off the Xbox 360 generation with the release