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financial-difficulties

Tech Firm OSOM’s Smartphone Division, Formerly Team Essential, Set to Shut Down This Week

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4 months ago
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Reports suggest that OSOM, a mobile phone company founded by the team behind Essential, is preparing to close its operations within this week. OSOM was established in 2020 after Andy...

Interactive Studio Behind Alone in the Dark Remake Shut Down by Embracer Parent Company

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6 months ago
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Pieces Interactive, the studio behind the Alone in the Dark remake (set to release in March 2024), has officially closed its doors under Embracer Group. Founded in 2007, Pieces Interactive...

Unveiling: AI Stability Seeking Acquirer amidst Accumulated Losses and Insufficient Liquidity

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7 months ago
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Reportedly, Stability AI, an artificial intelligence company from the UK and the owner of the Stable Diffusion model, which has previously faced financial difficulties, has begun negotiations to sell its...

Revolutionary Decision by Epic Games to Revise Pricing Strategy for Unreal Engine, Benefitting Users Outside the Gaming Sphere, Such as Film and Television

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1 year ago
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During the presentation at Unreal Fest 2023, Tim Sweeney, the CEO of Epic Games, announced that the company would be raising the price of using Unreal Engine for non-gaming purposes...

Embracer Group’s CEO Relents: Mandatory Workforce Reductions, Studio Shutdowns, and Further Video Game Studio Divestitures

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1 year ago
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Embracer Group, a Swedish gaming powerhouse, is currently facing financial difficulties, which have led to lay-offs, studio closures, and the potential sale of certain studios. It acknowledges that the company’s...