10tacle Studios (Elveon) file for bankruptcy

10tacle Studios (Elveon) file for bankruptcy

10tacle (1).jpg
Germany — 

It seems like all hope is lost now for the German publisher 10tacle. Today the publisher of games like (among others) the GTR racing series, the strategy title War Front: Turning Point and the successful adventure Jack Keane had to file for bankruptcy.

The future of high profile titles like Totems(influenced by the trend sport parcour and announced as an innovative action adventure) or fantasy game Elveon is now uncertain. The same uncertainty goes for the new MMO of German studio Reakktor Media (Black Prophecy) and for the Hungarian developer Stormregion, known for the Panzers series with its newest installment, Codename Panzers: Cold War, nearly finished.

Financial difficulties began in January 2008 and in March 2008 when 25% of their employees had to be dropped. But in the beginning, the story of 10tacle Studios was a story of success, with 10tacle stocks being at a record high of € 14.95 in May 2007. This slowly began to change, and by now the stocks are completely worthless, ranging at € 0.23.

One of the reasons for the bankruptcy were titles sold below expectation and other games like Elveon, which have been delayed for far too long and just got more and more expensive with time.(Elveon alone is said to have cost over 10 Million until now) 10tacle Studios probably put their bar too high and wanted to achieve a bit too much.

Let's hope that at least some of the titles, which are without a publisher right now, find a new home. Codename Panzers: Cold War and Black Prophecy can most easily hope for that, but in our opinion the future of Totems and Elveon doesn't seem to be very bright at the moment.

Vincent
1340 EXP -
August 7, 2008 - 17:56 #

I really hope that all of these games get a new publisher, it's sad...

gross.tim
3700 EXP -
August 7, 2008 - 18:16 #

guess no one knows what´s going to happen to elveon?

Tasinahri (not verified)
0 EXP -
August 8, 2008 - 06:25 #

Wow, I really hope Elveon gets picked up by someone. That looked really promising. I will still keep my Google alert for Elveon active, so who knows...
*keeping fingers crossed*