The studio behind the Gothic, Risen, and Elex franchises has reportedly been shut down by parent company Embracer Group.
The survival horror reboot performed below expectations where sales were concerned, Embracer Group revealed last month.
While it doesn't yet have a release date, Embracer Group has revealed that Killing Floor 3 is set for release before the end of the current fiscal year.
Pieces Interactive's survival horror reboot had a "softer-than-expected performance" following its launch this past March.
Shiver Entertainment developed the Nintendo Switch ports of Hogwarts Legacy and Mortal Kombat 11.
In a recent interview with GamesBeat, Embracer Freegroup CEO Lee Guinchard talks about the future of all things Middle-earth.
These are Asmodee Group, Coffee Stain and Friends, and Middle-earth Enterprises and Friends (which Embracer is being renamed to).
Embracer Group initiated its restructuring program in June 2023, leading to multiple project cancellations and studio closures on top of widespread layoffs.
Within hours of news breaking that Gearbox had been sold by Embracer Group, several staff members were informed they were being laid off.
Following Gearbox's sale to Take-Two, these studios will be "welcomed and integrated" into other parts of the Embracer Group.
Co-op shooter John Carpenter's Toxic Commando is also included, with CCO Timm Willits excited to share more details on all three titles.
Embracer Group recently confirmed that it's continuing development on "a previously announced AAA game based on a major license."
However, Embracer Group will retain ownership of Aspyr Media, Tripwire Interactive, Tuxedo Labs, 34 Big Things, and more.
Following recent reports, it's been officially confirmed that Saber Interactive is buying back its independence from parent company Embracer Group.
Long-term licensing and publishing rights for all existing and future games in the Metro series will continue to be held by PLAION, regardless of whether Saber acquires developer 4A Games.
Recent reports claimed that Saber Interactive had purchased its independence from parent company Embracer Group in a deal worth $500 million.
The studio can reportedly bring other subsidiaries and will continue to develop Star Wars: Knights of the Old Republic - Remake.
CEO Lars Wingefors says that though the company's restructuring is approaching its "final stretch", more layoffs may still follow.
The company announced a restructuring program last year, which has resulted in widespread layoffs, studio closures, and project cancellations.
"The global economic context, challenges of our industry and Embracer's comprehensive restructuring have finally impacted our studio," the developer says.
