Welcome Stranger to OCC!Login | Register

Crytek Isn't in Financial Trouble, It's Just in a "Transitional Phase"

Category: Gaming
Posted: July 25, 2014 01:35PM
Author: ClayMeow


You may have heard reports over the past month or so that Crytek was in financial trouble, failing to pay employees on time and on the verge of bankruptcy. Crytek denied those rumors, and I'm not one to participate in unfounded rumors and speculations, so I didn't feel it was worth posting about. But today, Crytek released an official statement to GamesIndustry.biz that addressed those rumors and explained the company's current situation, which should, hopefully, put it to bed once and for all. According to the statement, Crytek has been in a "transitional phase" as it evolves from a pure development studio into an "Online-Publisher." It goes on to say how such a transition required a refocus of strategies and brought with it an increased demand for capital, which the studio has secured. It does acknowledge that it should have been more open with its employees in regards to the transition, but makes no apologies for keeping it relatively hush with the public.

In any case, the statement says that, "Ultimately, with our organization, capitalization, portfolio and technologies we have now laid the foundations for securing Crytek's future - not just in the short term, but also long term. [...] We remain committed to doing what we are best known for and trying to develop the best interactive experiences and technology possible for everyone who loves gaming. We are confident that we will be able to share more positive news on Crytek's progress soon."

So hopefully that's the end of the controversy; especially considering Crytek stated it will not communicate any further on the matter. With Arena of Fate, HUNT: Horrors of the Gilded Age, and Homefront: The Revolution all looking exceptionally promising, it's nice to see that the rumored financial trouble was essentially just a misunderstanding. Here's wishing Crytek much luck and a bright future!

Source: GamesIndustry.biz



Register as a member to subscribe comments.

This news has comment postings disabled because it is now archived.

© 2001-2014 Overclockers Club ® Privacy Policy

Also part of our network: TalkAndroid, Android Forum, iPhone Informer, Neoseeker, and Used Audio Classifieds

Elapsed: 0.0263319016