Starbreeze Facing Insolvency - CEO Bails

Steam, Deals & More.
Post Reply
User avatar
Medicine Man
Bar Staff
Posts: 1256
Joined: Thu Aug 09, 2018 1:44 pm
Location: Under the Stairs

Starbreeze Facing Insolvency - CEO Bails

Post by Medicine Man » Mon Dec 03, 2018 1:32 pm


User avatar
DjchunKfunK
Bar Staff
Posts: 878
Joined: Thu Aug 09, 2018 9:02 am

Re: Starbreeze Facing Insolvency - CEO Bails

Post by DjchunKfunK » Mon Dec 03, 2018 1:52 pm

Saw this earlier today, sad news but considering their investment in VR and the multiple reboots that went on around the terrible Walking Dead game they have just released it's not a major surprise. Why they didn't just focus on getting PayDay 3 out I don't know.

User avatar
Medicine Man
Bar Staff
Posts: 1256
Joined: Thu Aug 09, 2018 1:44 pm
Location: Under the Stairs

Re: Starbreeze Facing Insolvency - CEO Bails

Post by Medicine Man » Mon Dec 03, 2018 5:56 pm

True.

I wonder where this leaves Pyschonauts 2, they were publishing it iirc. I would imagine it wouldn't be too difficult to find another I suppose.

User avatar
DjchunKfunK
Bar Staff
Posts: 878
Joined: Thu Aug 09, 2018 9:02 am

Re: Starbreeze Facing Insolvency - CEO Bails

Post by DjchunKfunK » Wed Dec 05, 2018 12:11 pm

Company raided under suspicion of insider trading. One person arrested, computers and equipment has been seized. Looks like it's all coming crashing down. :(

EDIT:
In mid November, outgoing CFO Sebastian Ahlskog sold his entire stake in Starbreeze for a total of SEK 3.3 million. At about the same time, outgoing CEO Bo Andersson Klint sold shares for a total of SEK 18.6 million. The transactions were made at stock prices around SEK 4-6.
Current stock price is 0.80SEK, $1 = 10SEK.

User avatar
Lee
Posts: 488
Joined: Fri Aug 10, 2018 7:27 am
Location: Glasgow

Re: Starbreeze Facing Insolvency - CEO Bails

Post by Lee » Thu Feb 14, 2019 2:18 pm

https://www.pcgamesinsider.biz/news/685 ... otherside/
Troubled games firm Starbreeze Studios has sold the publishing rights for the forthcoming System Shock 3 back to Otherside Entertainment.

In a post on its website, the Swedish publisher and developer said that not only has it returned the publishing rights to the Boston-based studio, but it is also recouping all cash that it has spent in connection with the cyberpunk RPG.

Starbreeze acquired these publishing rights back in 2017 and committed $12m to the project, promising to bring the title to PC in addition to other platforms. While developer Otherside kept the IP, the agreement had Starbreeze receiving 120 of its investment back, with revenue being split 50-50 after that point.

“I believe this is the best solution for us, although it is sad that we cannot complete the project with OtherSide," Starbreeze's acting CEO Mikael Nermark said.

"System Shock 3 is a fantastic title developed in cooperation with the industry legend Warren Spector and I am looking forward to seeing the game released."
Mr Annoyed and Proud of it.

User avatar
Medicine Man
Bar Staff
Posts: 1256
Joined: Thu Aug 09, 2018 1:44 pm
Location: Under the Stairs

Re: Starbreeze Facing Insolvency - CEO Bails

Post by Medicine Man » Sat May 11, 2019 10:48 am

Starbreeze currently lacks the funds to guarantee it’ll stay open for the next 12 months...

https://www.gamasutra.com/view/news/342 ... r_year.php

User avatar
Lee
Posts: 488
Joined: Fri Aug 10, 2018 7:27 am
Location: Glasgow

Re: Starbreeze Facing Insolvency - CEO Bails

Post by Lee » Sat May 11, 2019 5:50 pm

Gives the workers time to find alternative jobs in the meantime.
Mr Annoyed and Proud of it.

User avatar
Medicine Man
Bar Staff
Posts: 1256
Joined: Thu Aug 09, 2018 1:44 pm
Location: Under the Stairs

Re: Starbreeze Facing Insolvency - CEO Bails

Post by Medicine Man » Tue Jun 04, 2019 6:54 pm

Now laying off 60 folks which is around 25% of their workforce...

https://news.cision.com/starbreeze-ab/r ... s,c2833490

Post Reply