Swedish video games agency Enad International 7 (EG7) is shutting down UK developer Antimatter Video games.
In a release on the company’s investor relations portal, the agency mentioned that this was the results of of exploring “varied strategic choices”. These included promoting the studio, third-party publishing deasl for Antimatter Video games’ present venture, IGI Origins.
EG7 says that closing down the studio will scale back its annual prices by SEK 50 million ($4.6 million).
There shall be a one-off price of between SEK 15 million ($1.4 million) and SEK 25 million ($2.3 million) associated to closing the studio.
In accordance with LinkedIn, Antimatter Video games employs 52 members of workers. EG7 has begun the session course of, with the studio prone to shut absolutely in the summertime.
“The Group evaluated varied strategic choices for AMG, together with work-for-hire (WFH), studio sale, and third-party publishing partnerships for IGI, the title AMG has been creating over the previous couple of years,” EG7 wrote.
“Nonetheless, these efforts haven’t produced adequate traction inside the Group’s goal timeline. Because of this, the Board has made the choice to restrict additional funding and transfer in the direction of closing the studio.”