Cryo shuts down
The French game company and its subsidiary, Cryonetworks, shut down operations.
French game company Cryo and its subsidiary, Cryonetworks, have shut down, according to a report on gaming news site GamesIndustry.biz. The closure is due to a failure to negotiate a deal with the company's creditors, and Cryo shares have been suspended from trading awaiting an announcement from the company's board of directors.
Cryo is the publisher behind the upcoming massively multiplayer online sci-fi role-playing game Dune Generations. A number of other Cryo games have been published in North America through a partnership with Canada-based DreamCatcher Interactive.
DreamCatcher doesn't expect to encounter any significant effects from Cryo's closure. "While Cryo indirectly owns an interest in DreamCatcher, Cryo's unfortunate financial difficulties do not affect in any way DreamCatcher's operations or positive outlook," said Richard Wah Kan, CEO of DreamCatcher. "DreamCatcher is, and will continue to be, a vibrant, growing, and successful company and will continue to service its customers, deal with its suppliers, and acquire and distribute its wide range of quality game titles."