Crytek says new source of capital has secured its long-term future
Crytek has ended its steadfast silence regarding reports of financial trouble and dissatisfied employees that first came to light in June, when it was reported that the company was struggling to meet its payroll obligations. In a statement released today, it admitted that it hasn't done the best possible job of keeping staff apprised of its long-term plans, but says it has now "laid the foundation" that will secure Crytek's long-term future.
The statement in full:
"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."
It was reported in June that more than 30 employees have left Crytek U.K. since 2011, and that the company has been struggling to meet its payroll obligations since the cancellation of Ryse 2. Since then, Crytek's R&D principal graphics engineer and the lead producer on Crysis 3 and Ryse have also departed.
True to its word, Crytek did not respond to inquiries regarding the source of the capital.