Gamigo Issues Its Official Statement About the Purchase of Trion Worlds - MMORPG.com News

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Gamigo Issues Its Official Statement About the Purchase of Trion Worlds - MMORPG.com News

After a day of news about the acquisition of Trion Worlds by Gamigo, the German games publisher has finally issued its official statement. The press release cites three main points about the buyout including extending its games portfolio, the strengthening of its position "as a leading EU and American gaming company" and the potential revenue increase as a result of the Trion World's IPs.

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Deathtognomes

So which games are gonna be immediately shut down?

Albatroes

RIP Rift and Defiance

kruler

Press release that is full of clichés and usual fluff BS jargon, i.m sure these press releases are BOT generated, because if a person did actually speak like that in real life.....They surely would have the moniker that rhythms with Banker.

Dranmarth

Albatroes said:

RIP Rift and Defiance

Doubt Atlas Reactor makes it out of this intact either

kathiley

Don't want to sound like an ass, but after Archeage, I don't feel bad for them.
The way they talked to the community (with 2-3 exceptions in the community team), they should be ashamed.

Scorchien

   

                          You Reap what you Sow Trion

Sal1

That is very sad for these people. The Gaming industry is so cutthroat. I wouldn't accept a job in this area.

calibek

kruler said:

Press release that is full of clichés and usual fluff BS jargon, i.m sure these press releases are BOT generated, because if a person did actually speak like that in real life.....They surely would have the moniker that rhythms with Banker.

All higher management in any company acts like this. They have, what I like to call, VP speak. This whole corporate ass-kissing, everything is so happy, cheery and positive, full of optimism, rainbows, and sunshine drek they spit out that makes them seem like a 5 year old on crack.

Sadly the only thing that makes it worse in my eyes is when they incorporate hand gestures and high fives into their speeches. Enough to make me want to vomit right there.

Kyleran

Ah, so it makes sense, Trion was basically insolvent, hence the rapid termination of most employees as the new trustees have to protect the interests of the creditors. 

In California it keeps the bankrupcy out of the courts.

http://usisg.com/?page_id=39

https://www.nolo.com/legal-encyclopedia/free-books/small-business-book/chapter13-3.html

cheyane

Trion was acquired via an “Assignment for the Benefit of the Creditors” process

Sounds like they owed a pretty penny and their debt was acquired by Gamigo .

gervaise1

deleted

Kyleran

This "ABC" filing might negatively impact employees severance, appears it is governed by California state law rather than federal bankrupcy.

"Employee Priority. Employee and other claim priorities are governed by state law and may involve different amounts than apply under the Bankruptcy Code. In California, for example, the employee wage and salary priority is $4,300, not the $10,950 amount currently in force under the Bankruptcy Code."

https://bankruptcy.cooley.com/2008/03/articles/business-bankruptcy-issues/assignments-for-the-benefit-of-creditors-simple-as-abc/

gervaise1

Assignment for the Benefit of the Creditors. Bankruptcy and Liquidation terminology.

And: Acquired the "major assets" of Trion World Inc.

What it doesn't say is that Gamigo bought Trion Worlds Inc.

Could well mean that some "debt" or "liabilities" have been left with Trion Worlds Inc. - severance packages maybe? I suppose if Gamigo paid any money - other than taking on debt - there may be hope for those who now seem to be out of a job.

Albatroes

cheyane said:

Trion was acquired via an “Assignment for the Benefit of the Creditors” process

Sounds like they owed a pretty penny and their debt was acquired by Gamigo .

So.....Trion went to Gamigo asking for a favor and then Gamigo made them an offer they couldn't refuse. This is what Mafia 3 really should've been about.

TheScavenger

Wonder what will happen to Trove. The only healthy game Trion had.

Grakulen

kruler said:

Press release that is full of clichés and usual fluff BS jargon, i.m sure these press releases are BOT generated, because if a person did actually speak like that in real life.....They surely would have the moniker that rhythms with Banker.

Rest assured people do talk like that.

Sovrath

kruler said:

Press release that is full of clichés and usual fluff BS jargon, i.m sure these press releases are BOT generated, because if a person did actually speak like that in real life.....They surely would have the moniker that rhythms with Banker.

Do you live under a rock? Lots of people talk that way in professional circles.

I should add that it is annoying.

Kumapon

cheyane said:

Trion was acquired via an “Assignment for the Benefit of the Creditors” process

Sounds like they owed a pretty penny and their debt was acquired by Gamigo .

Pretty much shows that Trion was on it's last legs. They were bankrupt, and were lucky to find a buyer.

If Trion wasn't sold, they would not have lasted that much longer.

Cryomatrix

Cool, I'll buy Gamigo after I win the Mega Millions tonight.

Kyleran

Torval said:

Kumapon said:

cheyane said:

Trion was acquired via an “Assignment for the Benefit of the Creditors” process

Sounds like they owed a pretty penny and their debt was acquired by Gamigo .

Pretty much shows that Trion was on it's last legs. They were bankrupt, and were lucky to find a buyer.

If Trion wasn't sold, they would not have lasted that much longer.

The one thing in Kano's post that is relevant to the industry and echoed by Superman0X is that Trion isn't alone. On the surface not much in the thread seems industry relevant. After thinking a bit on both their comments and reading this, I think it's easy to infer at least one more company is feeling the fire.

You may recall Kano predicted the industry was suffering from the huge shift of gaming dollars to Fortnite, and he said some of the weaker firms wouldn't survive.

Probably some others on the brink currently

linadragon

Welp Trion Worlds is dead in the water along with their gaming portfolio in all honesty. Gamigo isn't a really good gaming company in the least and just I don't see any of these games surviving at all.

kinkyJalepeno

Torval said:

Kumapon said:

cheyane said:

Trion was acquired via an “Assignment for the Benefit of the Creditors” process

Sounds like they owed a pretty penny and their debt was acquired by Gamigo .

Pretty much shows that Trion was on it's last legs. They were bankrupt, and were lucky to find a buyer.



If Trion wasn't sold, they would not have lasted that much longer.

The one thing in Kano's post that is relevant to the industry and echoed by Superman0X is that Trion isn't alone. On the surface not much in the thread seems industry relevant. After thinking a bit on both their comments and reading this, I think it's easy to infer at least one more company is feeling the fire.

Day Break Games anyone?!

cheyane

linadragon said:

Welp Trion Worlds is dead in the water along with their gaming portfolio in all honesty. Gamigo isn't a really good gaming company in the least and just I don't see any of these games surviving at all.

So if the games aren't going to survive are they buying it for the Marvel Licence ?

k61977

Anyone else notice the part where they expect to bring in 18 million more. Really got my doubts those games are even pulling anywhere near that all together at this point. Trove was doing OK, the rest of them were limping along trying to just keep what they had. Feel bad for people that are playing rift and archeage still because I got the feeling if they don't pull in that number then they will start looking at what to axe.

kruler

could they get a projected revenue stream from licensing existing ip's they have taken over, the 18 million revenue does appear far fetched with the various ip's as they stand as of now.


As has been mentioned a few times in broader terms of changes...How in the name of all that's Holy is Day Break Games operating, (Not including rumors of strange money moving), and taking that thought exercise and applying it to what I said at the beginning, are we looking at these guys revenue in to narrow of a view.