In a recent announcement, the video game company Volition revealed that it would be closing its doors due to the parent company Embracer Group’s new restructuring program. According to the post, Embracer Group initiated this program in June as a means to strengthen itself and maintain its position as a leader in the industry. As part of this initiative, strategic and operational goals were evaluated, leading to the difficult decision to close Volition immediately.
The restructuring program was launched after Embracer Group faced setbacks in a $2 billion investment deal. The details of the failed deal were kept secret initially, but it was later revealed by Axios that Savvy Games Group, the gaming arm of Saudi Arabia’s Public Investment Fund, was on the other side of the transaction. With the deal falling through, Embracer Group had to take action to stabilize the company, resulting in the restructuring plan. This plan included pausing development on certain games, reducing spending, and either selling off or shutting down studios. Volition seems to be the first studio publicly affected by this restructuring.
Volition has a long-standing history, having been founded as Parallax Software in 1993. The studio initially gained recognition for developing the popular Descent series of video games. In 1996, it rebranded itself as Volition and went on to create successful franchises such as Summoner, Red Faction, and Saints Row. THQ acquired Volition in 2000, but when THQ filed for bankruptcy in 2017, the studio was sold to Deep Silver. In 2022, Volition released a reboot of the Saints Row franchise, which received mixed reviews from critics.
In their closure announcement, Volition expressed their commitment to assisting affected employees in finding new job opportunities. They also expressed deep gratitude to their customers and fans worldwide for the love and support they have received over the years, stating that they will always hold a special place in their hearts.
The closure of Volition is a significant loss for the gaming industry. The studio has a rich history of producing beloved games and contributing to the industry’s growth. It’s unfortunate that the restructuring measures implemented by Embracer Group have resulted in the closure of Volition. However, the company’s commitment to helping employees transition into new roles is commendable and serves as a testament to their values.
Fans of Volition and its games are undoubtedly saddened by the news and may be left wondering about the future of their favorite franchises. With the closure of the studio, the fate of ongoing projects and potential sequels to beloved series like Saints Row remains uncertain. It is hoped that Embracer Group’s restructuring efforts will ultimately benefit the company as a whole and pave the way for new opportunities and creative endeavors.
As the gaming industry continues to evolve and adapt, closures and restructurings are not uncommon. The landscape is highly competitive, and companies must make difficult decisions to ensure their long-term sustainability. While the closure of Volition is undoubtedly a loss, it is essential to remember the many accomplishments and contributions the studio has made over the years.
In conclusion, the closure of Volition serves as a reminder of the challenges faced by companies in the ever-changing video game industry. Embracer Group’s restructuring program, though necessary for the company’s stability, has resulted in the closure of a renowned studio. Nevertheless, Volition’s legacy will continue to resonate with fans and industry professionals alike. The gaming community extends its gratitude to the dedicated employees of Volition and wishes them well in their future endeavors.
