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Tequila Works, Developer of Rime, Initiates Insolvency Proceedings
The Spanish game development company Tequila Works has officially entered insolvency. According to a recent statement from Térence Mosca, the newly appointed general manager, the team is proud of its accomplishments, but unfavorable market conditions have forced the studio to take this step. As a result, the founders of Tequila Works have stepped down, and Mosca has taken over as general manage…
Nov. 12, 2024, 5:37 p.m.
News
Payload Studios Experiences Further Layoffs
Payload Studios, the developer behind TerraTech, has undergone another round of staff reductions. According to sources, this latest round has resulted in the loss of eight jobs, just three months after the studio cut its workforce by 25%. Those affected were reportedly given one month's notice without any redundancy pay. Russell Clarke, co-founder and CEO of Payload, acknowledged the layoffs but …
Nov. 12, 2024, 3:44 p.m.
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Starform Secures $6 Million in Funding to Fuel Metalstorm's Growth
Starform, the developer behind Metalstorm, has successfully raised $6 million in a funding round led by Bitkraft Ventures, with Dune Ventures also contributing to the investment. The newly acquired funds will be utilized to further enhance the development of Metalstorm, a 5v5 air-combat arena shooter, and to expand the company's team based in Seattle. Recently, Starform has made several key appoi…
Nov. 12, 2024, 2 p.m.
News
MTG Set to Purchase Plarium in $620 Million Deal
Modern Times Group has entered into an agreement to purchase Plarium, the developer behind Raid: Shadow Legends, from its current owner, Aristocrat Leisure Limited, in a deal valued at $620 million, with $20 million to be paid in 2026. The acquisition is expected to close in the first quarter of 2025, resulting in MTG's total annual sales exceeding SEK 12 billion ($1.1 billion). According to MTG'…
Nov. 12, 2024, 1:43 p.m.
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Neowiz Invests $8 Million in Publishing Partnership with Zakazane
Neowiz has entered into an $8 million agreement with Zakazane, a Warsaw-based game developer, to publish the studio's upcoming neo-Western RPG. According to a report by GamesBeat, Neowiz will provide funding for the game's development, describing it as a 'crucial addition to its portfolio'. Neowiz co-CEO Seung-Cheol Kim stated, 'We instantly connected with Zakazane over their passion for creating…
Nov. 12, 2024, 12:11 p.m.
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Ubisoft Sued for Allegedly Deceiving Players Over The Crew Server Shutdown
A proposed class action lawsuit has been filed against Ubisoft in a California court, alleging that the company deceived customers by shutting down The Crew game servers earlier this year. The lawsuit, submitted on November 4, 2024, by two players, asserts that Ubisoft misled consumers into purchasing the game without informing them that the servers could be shut down, making the game unplayable.…
Nov. 12, 2024, 11:29 a.m.
News
Winking Studio Secures $10 Million in Dual Listing on London Stock Exchange
Winking Studios, a prominent outsourcing and development firm, has successfully raised £7.9m ($10.1m) through its dual listing on the AIM Market of the London Stock Exchange, bolstering its existing $30m cash reserves to fuel mergers, acquisitions, and expansion into European and North American markets. The listing was backed by Acer Group, the company's majority shareholder. Notably, Winking Stu…
Nov. 12, 2024, 10:09 a.m.
News
Lightspeed Expands to Japan with New Studio Under Hideaki Itsuno's Leadership
Lightspeed Studios has announced the establishment of a new development studio in Japan, with industry veteran Hideaki Itsuno at the helm. The studio, which will operate out of Tokyo and Osaka, is set to focus on crafting original, high-quality AAA action games as part of Lightspeed's broader global expansion strategy. Lightspeed Studios' president, Jerry Chen, expressed his enthusiasm for Itsuno…
Nov. 12, 2024, 9:27 a.m.
News
Veteran Actor Tony Todd Passes Away at 69, Leaving a Legacy in the Gaming Industry
Renowned actor Tony Todd has sadly passed away at the age of 69. With a career spanning numerous iconic roles, Todd was perhaps best known for his distinctive voice work in Marvel's Spider-Man 2 as Venom and the Half-Life series as the Vortigaunts. His upcoming project, Indiana Jones and the Great Circle, is still awaiting release. Todd's extensive portfolio also includes notable roles such as th…
Nov. 11, 2024, 5:43 p.m.
News
Unlocking Switch 2's Potential: How Nintendo's Legacy Will Shape Its Future
The newest installment of the GamesIndustry.biz Microcast is out now, offering a concise rundown of the week's most significant gaming news. This episode delves into Nintendo's recent confirmation of Switch 2's backwards compatibility with its predecessor and online service, weighing the pros and cons of this approach and its implications for the console's launch. Additionally, the episode covers…
Nov. 11, 2024, 4:09 p.m.