After a decade in the industry, indie game publisher Versus Evil announced its indefinite closure. Earlier noted for distributing popular games like The Banner Saga by Stoic Studio and Pillars of Eternity by Obsidian Entertainment, the news was confirmed just days before Christmas and following a $2 million investment by Atari in Versus Evil’s parent company, tinyBuild. The closure affects 13 employees, leaving the entire Versus Evil team unemployed as revealed by Lance James, the former head of production.
The closure of Versus Evil came on the heels of tinyBuild’s announcement regarding lower-than-expected revenues resulting in undertakings of cost-cutting measures, which included layoffs. Due to the financial underperformance of Versus Evil’s label and game delays, tinyBuild ended up settling a $3.5 million financial dispute with Versus Evil founder Steve Escalante, Lance James, and the former owners, Stall Proof LLC.
The closure not only marks a grim end to the publisher but also highlights a difficult year for the wider gaming industry. The gaming sector has witnessed the loss of 9,000 jobs due to cutbacks, coupled with the challenges compounded by Atari’s investment in tinyBuild, aiming to raise $14 million in capital through issuance of new shares.
Leave a Reply