Sega sells Amplitude Studios

pcgamesinsider.biz:

Japanese games giant Sega has sold Amplitude Studios. 

In its financial release for the six months ending September 30th, the company confirmed that the developer had conducted a management buyout. Furthermore, Sega reported an extraordinary loss of around ¥5.9 billion ($38.7 million) for the second quarter of this fiscal year on the back of the sale of Amplitude Studios. 

Later in its report, Sega confirmed that this was part of its restructuring effort within its European business that has seen layoffs, mostly at Total War firm Creative Assembly. The company recently sold off Canadian developer Relic, too. 

In a post on Twitter, Amplitude confirmed the news and said it was happy to return to its independent roots after being acquired by Sega back in 2016.

"Amplitude is now owned by members of the internal team, meaning that the future of our studio and games is staying in the hands of those who know them best," the studio wrote. 

"Being part of the Sega family and working with their team for the past 8 years has been an incredible journey. We've learned so much, have grown in ways we never could have imagined and have made great friends along the way. As our paths now head in different directions, we're parting ways on the best of terms and we'll continue to cheer them on as they take on new and exciting things in the future!

"By returning to our indie roots we're getting back to the heart of what drives us: creativity, innovation, and close-knit collaboration with our community. These values have shaped who we are from the beginning, and will lead the way forward in this exciting next chapter." 

For the six months ending September 30th, 2024, Sega reported a 4.5 per cent decline in net sales, hitting ¥211.7 billion ($1.4 billion) for the period. Operating income dipped 18.1 per cent to ¥32.8 billion ($214.9 million), too.