SEGA announces the sale of Relic Entertainment to external investors and cuts down the workforce by 240 employees across its various studios in Europe in order to streamline expenses. Relic Entertainment will transform into an independent studio while continuing to support its games, including the upcoming Company of Heroes 3. The majority of the laid-off employees in Europe came from Creative Assembly and SEGA Europe, with HARDlight being the studio with the least number of layoffs.
Relic Entertainment is a renowned game development studio known for its exceptional work on series like Company of Heroes, Warhammer 40,000: Dawn of War, and Age of Empires IV. Established in 1997 as a subsidiary of THQ under the name THQ Canada Inc., it was acquired by SEGA in 2013 and rebranded as Relic Entertainment.
Source: SEGA via Gamesindustry.biz
TLDR: SEGA sells Relic Entertainment to outside investors, leading to a reduction of 240 employees in European studios to cut costs. Relic Entertainment will operate independently and continue supporting games like Company of Heroes 3.
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