Crystal Dynamics has become the latest studio owned by Embracer Group to be hit with layoffs.
01.09.2023 - 12:49 / engadget.com
Volition, the studio behind the Saints Row series, has closed with immediate effect. The developer said in a statement that the shutdown was a result of restructuring at parent company Embracer Group.
"This past June, Embracer Group announced a restructuring program to strengthen Embracer and maintain its position as a leader in the video game industry," the studio said. “As part of that program, they evaluated strategic and operational goals and made the difficult decision to close Volition effective immediately." Volition's workers will be offered assistance to "help smooth the transition." The studio signed off by thanking its fans.
Volition dates back to 1993 and a company called Parallax Software Corporation. That team split a few years later, leading to the formation of Volition. THQ bought the studio in 2000. Future Embracer subsidiary Koch Media (later Plaion) snapped it up for its Deep Silver division after THQ filed for bankruptcy in 2012.
Along with the Saints Row series for which it's best known, Volition was also behind the Descent games and the Red Faction franchise. Its final game was a 2022 Saints Row reboot. The game wasn't especially well received, though PS Plus subscribers can claim it at no extra cost in September.
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Embracer said in June that layoffs and studio closures were on the way as part of the restructuring plan. The company, which spent several years snapping up a wealth of gaming studios and the rights to many notable franchises, noted that a long-in-the-works $2 billion investment opportunity vanished at the 11th hour. Axiosrecently reported that the Saudi government-funded Savvy Games Group was the partner that Embracer had a verbal agreement with before the deal fell apart.
Crystal Dynamics has become the latest studio owned by Embracer Group to be hit with layoffs.
Less than 18 months after it acquired Baldur’s Gate: Enhanced Edition and Mythforce developers Beamdog, Embracer Group has reportedly laid off more than two dozen staff at the studio. Mere days after the release of its nostalgic co-op shooter, no less.
Embracer has made a new round of layoffs, this time at Mythforce developer Beamdog less than 18 months after its acquisition.
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Borderlands developer Gearbox is reportedly up for sale by parent company Embracer Group. As per Reuters, the Swedish conglomerate is looking to restructure following a $2 billion (about Rs. 16,586 crore) deal with Saudi Arabia government-funded Savvy Games Group that fell through, earlier this year. The fallout resulted in the former cutting down on spending, in addition to closing down studios and laying off its employees. Having been acquired merely two-and-a-half years ago, Gearbox is now the latest victim, with some alleged third-party publishers expressing interest in acquiring the developer. No names were mentioned, though they were described as “international gaming groups.”
Gearbox is reportedly the latest studio to be affected by Embracer Group's restructuring efforts.
Borderlands developer Gearbox could be up for sale, according to a new report.
By Jacob Kastrenakes, a deputy editor who oversees tech and news coverage. Since joining The Verge in 2012, he’s published 5,000+ stories and is the founding editor of the creators desk.
Embracer is reportedly considering selling Gearbox, developer of the Borderlands franchise.
Embracer Group is considering selling off Gearbox Software, according to a new report.
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Yesterday, August 31, saw the end of Volition, and the studio bid farewell with one final post on Twitter. In its message, the 30-year-old developer looked back on its existence, saying it's "been around long enough that some folks forget what we made, but they certainly know our games."