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Crytek claims its future is secure

Crytek claims its future is secure

Crytek has released a statement addressing its recent financial troubles, claiming that capital has been secured to assure the company's continued existence.

Troubled games specialist Crytek has spoken publicly about its financial problems for the first time, claiming that much-needed additional capital has been secured.

Crytek, best known for CryEngine and its Crysis franchise, is a company undergoing a complete paradigm shift. In 2012, it announced plans to release all future titles as free-to-play, and earlier this year announced Linux support and the launch of a subscription-based licence for CryEngine for games developers on a tighter budget.

Over the past few months, reports coming out of the company have suggested the transition isn't going well. Crytek has been claimed to be on the verge of bankruptcy, with staff going unpaid for months at a time. Its deal for a sequel to the Xbox One exclusive Ryse has fallen apart, and key staff have been jumping ship. Throughout, Crytek itself has remained silent; a decision that has not helped stem concern about the company's future.

A Crytek spokesperson has finally broken the company's silence, sending a statement to GamesIndustry that claims all has been resolved. '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,' the statement reads. '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.

'[i]We can now concentrate on the long term strategic direction of Crytek and our core competencies,
' the statement continues. 'Ultimately, with our organisation, capitalisation, portfolio and technologies we have now laid the foundations for securing Crytek's future - not just in the short term, but also long term.'

Crytek has indicated that no more statements on the matter are to be forthcoming, stating 'we kindly ask for your understanding that we won't be communicating further details about our developments and progress.'

8 Comments

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Corky42 28th July 2014, 13:55 Quote
Good to hear that Crytek staff have been paid as well apparently, i wounder how much damage has been done though from losing all the people that left during this "transitional phase"

I guess at some point we will get to find out who the mysterious savior was, do Crytek publish financial reports ?
NethLyn 28th July 2014, 19:18 Quote
The only thing missing from the sub headline was "Crysis 4 announced". I didn't mind C2 when playing it fully stealth compared to the first time but they need to get money in, so they might as well milk the consolised version of the main seller.
fix-the-spade 28th July 2014, 19:48 Quote
Quote:
Originally Posted by NethLyn
The only thing missing from the sub headline was "Crysis 4 announced".
I think any chance of that had it's chest burst with the news that Aliens: Colonial Marines was a better seller than Crysis 3.
.
Of course, if they want to make Crysis 4 a direct sequel to the original/Warhead picking up where number 1 left off, I'd buy it twice.
[USRF]Obiwan 30th July 2014, 10:50 Quote
Well, since the nextgen GPU (and CPU) progress has slowed down to zero for while now I don't see the point in making C4 for 'benchmarking' your latest and greatest PC build. Unless they want to blow up the current top of the line hardware. I catchy phrase would be: "But can it survive C4?".
flibblesan 31st July 2014, 00:09 Quote
Looks like they are 'secured' by selling off the Homefront IP and Crytek UK to Koch Media.
Corky42 31st July 2014, 07:43 Quote
Didn't they only just get Homefront last year ?
At least it looks like it's gone to a good home, Deep Silver have some good games under their belt.
Parge 31st July 2014, 09:07 Quote
Quote:
Originally Posted by Corky42
Didn't they only just get Homefront last year ?
At least it looks like it's gone to a good home, Deep Silver have some good games under their belt.

I think Deep Silver were developing the new HF game anyway?
Corky42 31st July 2014, 09:53 Quote
Talk about confusing :)

I done some reading and from what i can work out Crytek bought the IP for Homefront and were co-developing HF:The Revolution with Deep Silver, it seems they sold the IP and the Nottingham-based studio that were working on it to Koch Media who own Deep Silver.

Seems like a good deal for those guys in the Nottingham-based studio, they get to carry on working on HF:The Revolution and can continue the working relationship they have with Deep Silver.
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