Crytek acquires Free Radical
News | February 4, 2009 1:18 am
Crytek has purchased Free Radical, the developers of the Time Splitters series and last year's flop Haze. The studio was also working on Star Wars Battlefront III and Time Splitters IV when it was put into administration half-way through December. According to 1UP, the developers of Far Cry and Crysis purchased the UK dev for a undisclosed amount.
When Free Radical employees arrived at work at the company's four Nottingham, UK offices on December 18, they found that they were locked out, with a sign asking them to attend a meeting at a nearby hotel. There it was confirmed that the company had gone into administration, a process in the UK whereby companies can continue to trade while their financial woes are tackled, hopefully meaning that the company can be saved from complete closure.
On December 31, administrator Cameron Gunn of ReSolve Partners announced that although the developer would continue to operate, it would be shedding 140 staff. The remaining 40 employees stayed on at the company working out of one office. Gunn stated at the time that there had been "strong interest" from a number of parties worldwide for the developer.
Speaking from his local pub, Yescombe told us, "After seven long weeks of uncertainty, I can confirm that Free Radical is now out of the woods. We've been bought by a really, really good company." He added, in what was possibly a first for the outspoken writer, "I'm so excited I'm lost for words." Then he found some and continued: "It's the smoothest deal we've ever done. It all went through quickly, efficiently, fantastically..."
Yescombe said that he was unsure what the deal would mean for those made redundant on New Year's Eve, but that he hoped the company could ramp back up to its former size. Asked about what the team will be working on -- and specifically if this means we will one day see TimeSplitters 4 -- he said, "We don't know yet. We'll find out over the coming weeks."
The studio should now be out of financial woe, though time will tell.
As a side note, I think this is good news for all; remembering back to the editorial about the crappy economy sinking devs.
Quote by 1UP:
When Free Radical employees arrived at work at the company's four Nottingham, UK offices on December 18, they found that they were locked out, with a sign asking them to attend a meeting at a nearby hotel. There it was confirmed that the company had gone into administration, a process in the UK whereby companies can continue to trade while their financial woes are tackled, hopefully meaning that the company can be saved from complete closure.
On December 31, administrator Cameron Gunn of ReSolve Partners announced that although the developer would continue to operate, it would be shedding 140 staff. The remaining 40 employees stayed on at the company working out of one office. Gunn stated at the time that there had been "strong interest" from a number of parties worldwide for the developer.
Speaking from his local pub, Yescombe told us, "After seven long weeks of uncertainty, I can confirm that Free Radical is now out of the woods. We've been bought by a really, really good company." He added, in what was possibly a first for the outspoken writer, "I'm so excited I'm lost for words." Then he found some and continued: "It's the smoothest deal we've ever done. It all went through quickly, efficiently, fantastically..."
Yescombe said that he was unsure what the deal would mean for those made redundant on New Year's Eve, but that he hoped the company could ramp back up to its former size. Asked about what the team will be working on -- and specifically if this means we will one day see TimeSplitters 4 -- he said, "We don't know yet. We'll find out over the coming weeks."
The studio should now be out of financial woe, though time will tell.
As a side note, I think this is good news for all; remembering back to the editorial about the crappy economy sinking devs.
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