Crytek’s financial troubles has forced the company to refocus its strategies and make some big changes.
It’s been known for a while that Crytek has been having some financial troubles. In 2015, the studio struck a major deal with Amazon who would license the CryEngine for their own projects. While that deal brought in quite a bit of money, it wasn’t enough to life the company. So, today, Crytek has revealed some major changes they’ll be making to secure their future.
Development of premium IPs will continue at the company’s Frankfurt and Kiev studios. CryEngine will remain a core pillar of Crytek’s strategy with the company looking to find more licensees and developers to use their engine. However, the remaining studios will not be a part of the refocus, and will be shut down. Crytek is working to secure jobs in order to ensure a stable future.
Crytek Co-Founder and Managing Director, Avni Yerli, said: “Undergoing such transitions is far from easy, and we’d like to sincerely thank each and every staff member – past and present – for their hard work and commitment to Crytek. These changes are part of the essential steps we are taking to ensure Crytek is a healthy and sustainable business moving forward that can continue to attract and nurture our industry’s top talent. The reasons for this have been communicated internally along the way. Our focus now lies entirely on the core strengths that have always defined Crytek – world-class developers, state-of-the-art technology and innovative game development, and we believe that going through this challenging process will make us a more agile, viable, and attractive studio, primed for future success.”
Crytek is well-known in the industry for delivering stellar looking games. These include the original Far Cry, Crysis, and Ryse: Son of Rome. Recently, the studio has been working heavily with VR, developing titles like The Climb and Robinson: The Journey. Hopefully the studio will be find its footing and deliver more quality games.