4507 Enad Global 7 closing down Antimatter Games

Enad Global 7 closing down Antimatter Games

Swedish games firm Enad Global 7 (EG7) is shutting down UK developer Antimatter Games.

In a release on the company’s investor relations portal, the firm said that this was the result of of exploring “various strategic options”. These included selling the studio, third-party publishing deasl for Antimatter Games’ current project, IGI Origins.

EG7 says that closing down the studio will reduce its annual costs by SEK 50 million ($4.6 million).

There will be a one-off cost of between SEK 15 million ($1.4 million) and SEK 25 million ($2.3 million) related to closing the studio.

According to LinkedIn, Antimatter Games employs 52 members of staff. EG7 has begun the consultation process, with the studio likely to close fully in the summer.

“The Group evaluated various strategic options for AMG, including work-for-hire (WFH), studio sale, and third-party publishing partnerships for IGI, the title AMG has been developing over the last few years,” EG7 wrote.

“However, these efforts have not produced sufficient traction within the Group’s target timeline. As a result, the Board has made the decision to limit further investment and move towards closing the studio.”

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