The company explained in the post that the reason for Volition’s closure is related to the new restructuring program of the parent company, Embracer Group.
“Last June, Embracer Group announced a restructuring program to strengthen Embracer and maintain its position as a leader in the video game industry,” the announcement read. “As part of this program, they evaluated strategic and operational objectives and made the difficult decision to close Volition effective immediately.”
Last June, the Embracer Group announced this restructuring program after news emerged that a $2 billion investment deal with the company had failed. Although Embracer kept a secret who was on the other side of that deal, Axios mentioned It was none other than Savvy Games Group, the gaming arm of the Public Investment Fund of Saudi Arabia. As a result of the deal’s failure, Embracer said it would restructure the company, including pausing development of some games, reducing spending, and selling or closing the studios. Volition appears to be the first studio of its kind to be publicly affected by the Embracer restructuring.
Volition was founded in 1993 as Parallax Software, the developers of Parallax Software coming down series of video games. In 1996, it adopted the name Volition before establishing it summoner, Red factionAnd saints row MLM. The studio was acquired by THQ in 2000 and quickly sold to Deep Silver when THQ filed for bankruptcy in 2017. In 2022, Volition launched a reboot of saints row to average reviews.
Volition ended the ad by saying it would help affected employees try to find new jobs and with a message for fans. “We thank our customers and fans around the world for all the love and support over the years,” the statement read. “You will always be in our hearts.”
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