Realtime Worlds on verge of buyout rescue

Realtime Worlds on verge of buyout rescue

By Rob Crossley

September 9th 2010 at 2:00PM

Announcement expected next week as sale is finalised; impact on jobs remains unclear

Collapsed Dundee studio Realtime Worlds is just days away from being pulled out of administration, Develop understands.

In what is believed to be a “final transaction”, sources tell Develop that the remainder of the APB outfit will be acquired by the end of next week. Final discussions are underway and – pending a disaster at the eleventh hour – a positive announcement is being prepared.

“Discussions are continuing and we are expecting to make an announcement next week,” a spokesperson for the developer’s administrator, Begbies Traynor, told Develop today.

Realtime Worlds was permanently split into at least two segments last week as an anonymous American company purchased the group’s Project Myworld IP.

That selected buyout meant Realtime Worlds would be on offer without its pet b-project in the package.

However, the company still boasts a Dundee studio, a US satellite office and the APB rights.

Develop understands that there have been two or three companies making sustained and serious enquiries into buying the Realtime Worlds business and brand, with interest already confirmed to be coming from “both sides of the Atlantic”.

Realtime Worlds entered administration last month following lacklustre sales of its costly five-year project, APB.

Following the purchase of MyWorld from a company determined to remain anonymous, it was speculated yesterday that Ian Hetherington is linked to the firm. Hetherington was the chairman of Realtime Worlds as the studio went bust.

The specifics both buyout deals, including the number of jobs lost and saved, have so far proven to be well protected.