Empire hopeful of Razorworks sale

Empire hopeful of Razorworks sale

By Ed Fear

July 3rd 2008 at 3:58PM

Expects to complete transaction in the coming weeks

UK-based publisher Empire Interactive has stated that it is "currently in negotiations" with potential buyers for its Razorworks studio, the news of the closure of which Develop exclusively broke earlier this month.

Empire's statement continued on to say that the publisher was looking to complete the transaction in the coming weeks, and that the move came as part of a reduction of the publisher's active headcount by 30 per cent, as well as a reorganisation of Empire's executive management team and a relocation of head office.

“The changes at Empire mark an important new direction for the company as we head into fiscal 2009,” said Clive Kabatznik, CEO of Empire's parent company Silverstar Holdings.

“These significant cost savings and managerial changes, along with our planned fiscal 2009 game line-up, position the company for a strong fiscal 2009.”