Crytek Going Through Transitional Phase

Over the last several weeks, we have seen reports that Crysis 3 developer Crytek was in financial trouble. There was talk that the staff hadn't been paid for months, that many members had walked out, and that a number of games were canceled. During this time, Crytek kept quiet, leaving the press and fans to speculate about the fate of this studio.

The company has now come forward with an explanation, reporting that it's going through a "transitional phase."

"In recent weeks, there have been repeated reports and rumors relating to financial problems at Crytek," stated a letter from the company. "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."

The letter said that the company is moving from being simply a developer to becoming online publisher, which requires the company to refocus its strategies. "These challenges go along with an increased demand for capital which we have secured," the company added without explaining how this capital was obtained. Did the company sell part of itself to cover its debts?

Crytek said that with the capital now secured, it can concentrate on the long term strategic direction. However, fans will need to have patience and understanding, as the company has no plans to disclose any additional information about the transition and aftermath.

"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," the letter read. "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."

In an interesting twist, the letter concludes by saying that the company hopes to share more positive news soon. Crytek is the developer of a number of games including Crysis and Far Cry. The company also licenses out its CryEngine game engine, which is currently powering 2K Games' Evolve and Chris Roberts' Star Citizen.

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  • ddpruitt
    "Transitional phase" tends to be MBA speak for going bankrupt, getting ready to sell of assets, and laying people off. Feel sorry for those that haven't gotten paid, they did some damn fine work.
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  • ddpruitt
    "Transitional phase" tends to be MBA speak for going bankrupt, getting ready to sell of assets, and laying people off. Feel sorry for those that haven't gotten paid, they did some damn fine work.
  • dstarr3
    It's a real shame when talent gets snuffed out because of a silly little thing like money.
  • junkeymonkey
    I would have bought more of there games if they were 100% on the disk and not have to do the steam thing any game that requires a 3ed party or whatever to dictate the game to me is just a no sale item when a game requires you to give access to my computer as in steams agreement ''with out limitations'' I don't think so .. put the full game on the disk -no internet required - no origen or steam accounts required - nothing but me my computer and the game disk and then I may spend my money on you until then go broke I got plenty of games that don't need all this blackmail it load or play as I see fit..