PDA

View Full Version : Square Enix withdraws from IO Interactive, negotiating with potential investors


Rubeus
05-11-2017, 06:07 PM
Square Enix sometimes makes stupid decisions.

http://gematsu.com/wp-content/uploads/2017/05/IO-Interactive_05-11-17.jpg

Square Enix withdraws from IO Interactive, negotiating with potential investors -- Square Enix dropping the Hitman developer.


Square Enix has withdrawn from Hitman developer and internal studio IO Interactiv, and has begun negotiations with potential new investors to keep the studio alive, the company announced.

Here is the full statement from Square Enix:

To maximize player satisfaction as well as market potential going forward, we are focusing our resources and energies on key franchises and studios. As a result, [Square Enix] has regrettably decided to withdraw from the business of IO Interactive A/S, a wholly‐owned subsidiary and a Danish corporation, as of March 31, 2017.

This decision has resulted in booking of the extraordinary loss amounting to 4,898 million yen, including disposition of the content production account related to the business and impairment loss of intangible assets, in the financial results for the fiscal year ended March 31, 2017.

As a result of this [Square Enix] started discussions with potential new investors and is currently in negotiations to secure this investment. Whilst there can be no guarantees that the negotiations will be concluded successfully, they are being explored since this is in the best interests of our shareholders, the studio and the industry as a whole.


http://gematsu.com/2017/05/square-enix-withdraws-io-interactive-negotiating-potential-investors

Nem
05-11-2017, 10:07 PM
Very good language on that press release.

Sorry, the PR in me had to compliment that.

Hey, they are doing more than other companies that outright just close them down.

spider-prime
05-11-2017, 10:21 PM
sometimes makes stupid decisions? Try most of the time.

Hagane
05-11-2017, 11:06 PM
Most of the last geenration was full of those. Why the surprise?

Escaflowne2001
05-11-2017, 11:19 PM
Obviously Hitman never worked out but at least they are looking for a buyer rather then just shutting them down and firing everyone.

Hagane
05-11-2017, 11:30 PM
IO interactive wouldn't be in this situation if they decided to add spiked metrosexual hair on the character.

Rubeus
05-12-2017, 02:17 AM
sometimes makes stupid decisions? Try most of the time.

Have to gave SE some credits for FF15, FF7 Remake, Kingdom Hearts 5 and Star Ocean 5 (even though it bombed badly).