Crytek Sell off Their Last Hope Asset as Financial Woes Continue

Koch Media and their publishing division have grabbed Crytek by the throat this week, snapping up the Homefront franchise, as well as rights to their in-development title Homefront: The Revolution and all of its related assets.

This is both good and terrible news for Crytek, the company has been hit with financial troubles and a mass exodus of its main staff in recent months as the company failed to pay staff wages and sales targets were not met. Their last hope was Homefront, their next AAA title and now they no longer even own it, leaving Crytek with a pile of money from the sale, but nothing new to market short of their current back catalogue and game engine CryEngine 3.

We are thrilled to see another great IP joining the Deep Silver universe,” Dr. Klemens Kundratitz, CEO of Koch Media Group, said in a statement. “We strongly believe in the potential of Homefront: The Revolution and trust in the new team to continue the path they have been walking in the last years.”

Crytek may now be completely out of the game just yet, but if this recent sale is anything to go by, we could be about to see another THQ style clear out.

Thank you Forbes for providing us with this information.

Image courtesy of Forbes.

Crisis at Crytek Could Be Over

Over the past weeks we have heard rumours about Cryteks staff not being paid for months as well as employees quitting their job due to that and being swiped up by other companies. Even though the company dismissed the claims as rumours at first, it hasn’t stopped new ones from popping up.

In a new statement to gameindustry.biz on Friday, Crytek has given us the first official statement on the situation since the original denial of the problem. Crytek has been enduring a transitional phase as they are calling it, transforming from a developer to an Online-Publisher. The company also stated that it has secured new capital that should ensure both short and long-term foundation and added “We won’t be communicating further details about our developments and progress.”

In recent weeks, there have been repeated reports and rumors relating to financial problems at Crytek. 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.

Internally, we have acknowledged that the flow of information to employees has not been as good as it should have, however we hope you understand that communicating details of our plans publicly has not always been possible.

Like the games industry as a whole, Crytek has been in a transitional phase. Our evolution from a development studio to an Online-Publisher has required us to refocus our strategies. These challenges go along with an increased demand for capital which we have secured.

We can now concentrate on the long term strategic direction of Crytek and our core competencies. We kindly ask for your understanding, that we won’t be communicating further details about our developments and progress.

Ultimately, with our organization, capitalization, portfolio and technologies we have now laid the foundations for securing Crytek’s future – not just in the short term, but also long term.

Through this period of speculation, 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. 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.

We are confident that we will be able to share more positive news on Crytek’s progress soon.

These are a lot of vague words not really saying much, but they do tell us the future of Crytek and their popular CryEngine might have been secured for another round.

Thank you Gamesindustry for providing us with this information.

Image courtesy of Crytek.

Crytek UK Employees on Strike, Refusing to go to Work

It has been said that Crytek UK’s employees were paid £700 for a month’s work, but despite that, the company still was able to release Warface, the free-to-play FPS Crytek promised to release some time ago. The latest rumors coming from the UK headquarter points to the staff refusing to go to work entirely.

Sources over at Kotaku indicate that work at Crytek UK, which was currently working on the new Homefront: The Revolution title, has been halted due to the unfair pay. Employees apparently claim that they are still owed back pay on previous work and to show they concerns regarding the current situation, they are said to have handed letters of grievance before going home.

It is said that most problems at Crytek are the result of the shortcomings brought by Ryse: Son of Rome’s Xbox One launch. The title has been reported to do well, but users apparently were unsatisfied and complained that the gameplay was too stuffed with quick-time events. Despite its graphics and gameplay, it is said to have failed in capturing users’ attention, resulting in Crytek going through the current financial problems.

Other rumors out of the headquarters speak of Deep Silver, Homefront’s publisher and Dead Rising franchise owner, attempting to buy out at leas the British developers who have left and/or are currently unsatisfied with the current measures Crytek is using to deal with the crisis. However, nothing is clear at the moment. Crytek is the only one who can share more solid information about what is going on, that is if and when they will release an official statement.

Thank you KitGuru for providing us with this information

Crytek Announces a Homefront Sequel Named Homefront: The Revolution

The first Homefront game was not considered as a big success by THQ, having it be more of a mainstream shooter. Since then, THQ went bankrupt and no further development could be considered given THQ’s situation. Crytek however saw potential in the title and bought the brand.

Since then, Crytek has been working hard to make this launch a success and also add its CryEngine touches to the title. The name of the upcoming sequel is Homefront: The Revolution, which will come out for Xbox One, PlayStation 4, as well as PC.

The game itself is said to be open-world, having the action set in Philadelphia and focusing mostly on guerrilla warfare style. The player is said to take the role of a freedom fighter, who alongside other civilians start to fight against the oppressors.

[youtube]https://www.youtube.com/watch?v=XkAZauZ0U5w[/youtube]

The story involves the Korean army, which has been ruling the country for about four years, until the uprising begins and the player fights to overthrow them in order to bring freedom to the region once more. It is also said that the player will have to craft his own weapons and use the surroundings during gameplay, since the opposing force already controls the area and implicitly all the weapons and resources.

Crytek is also looking to break the mainstream shooting feel and add focus more on the open-world environment, where players can team up with friends and play in co-op mode. The only thing linking the two Homefront titles is said to be the story. More details about the game are unknown at the moment, but Crytek is bound to present it at E3 next week.

Thank you KitGuru for providing us with this information
Image and video courtesy of KitGuru