Emergent â??operating under normal businessâ??

Emergent â??operating under normal businessâ??

By Rob Crossley

November 16th 2010 at 2:28PM

No cuts despite crisis sale, rep confirms

Gamebryo vendor Emergent has not closed nor has it made cuts to staff as the group looks to sell off the game engine central to its business.

A spokesperson for the US firm told Develop that the company is for now operating “under its normal course of business”.

Documents which surfaced last week revealed Emergent is running out of cash and has appointed an agency to sell its assets.
 
The documents read: “Recent working capital constraints and an overly leveraged balance sheet have created the opportunity for the company’s assets to be purchased.”

At the time of sale it was unclear if Emergent was continuing as a going concern, or whether it was up for auction in order to stave off liquidation.

The popular Gamebryo LightSpeed engine is central to numerous games, including Fallout 3 and Epic Mickey.

Emergent signed a long-term deal with struggling studio Krome, to share teams and tech, though it appears that deep job cuts at the Australian developer had put a halt to the deal.

The news of Emergent’s sale was unfortunately timed – with rival engine group InstantAction putting its Torque Engine up for sale the very same week.