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Crytek says that it is going through a 'transitional phase'

Crytek makes a statement over the recent events, saying that it is going through a 'transitional phase' from a developer, to online publisher

| Business, Financial & Legal News | Posted: Jul 28, 2014 1:32 am

Crytek has been going some tough times lately, not paying its employees on time, key talent leaving, and more, but the German studio behind CryEngine and Crysis has finally made a formal statement to GamesIndustry.

 

TweakTown image news/3/9/39332_01_crytek_says_that_it_is_going_through_a_transitional_phase.png

 

The company said that it "has been in a transitional phase" as it changes from being a developer to an online publisher, something that requires considerable sums of money. Crytek said that it has secured the money required, and is better prepared for the long term, but added that "we won't be communicating further details about our developments and progress".

 

The full statement we have below:

 

In recent weeks, there have been repeated reports and rumors relating to financial problems at Crytek. Having already given an update to staff across all our studios, we are now in a position to share more details with members of the press and public.

 

Internally, we have acknowledged that the flow of information to employees has not been as good as it should have, however we hope you understand that communicating details of our plans publicly has not always been possible.

 

Like the games industry as a whole, Crytek has been in a transitional phase. Our evolution from a development studio to an Online-Publisher has required us to refocus our strategies. These challenges go along with an increased demand for capital which we have secured.

 

We can now concentrate on the long term strategic direction of Crytek and our core competencies. We kindly ask for your understanding, that we won't be communicating further details about our developments and progress.

 

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.

 

Through this period of speculation, we are thankful for the support and encouragement we've received from our community and our partners, and for the contribution all of our staff have made. 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.

NEWS SOURCES:Gamesindustry.biz

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