Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

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

SBFordSBFord Former Associate EditorMember LegendaryPosts: 33,126
edited October 2018 in News & Features Discussion

imageGamigo 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.

Read the full story here



¯\_(ツ)_/¯ 


«1

Comments

  • DeathtognomesDeathtognomes Member UncommonPosts: 104
    So which games are gonna be immediately shut down?
  • AlbatroesAlbatroes Member LegendaryPosts: 6,484
    RIP Rift and Defiance
    OzmodancatofmanyLark3mdoomex
  • krulerkruler Member UncommonPosts: 589
    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.
    Sal1iamspamicusSovrathcatofmany

  • DranmarthDranmarth Member UncommonPosts: 54

    Albatroes said:

    RIP Rift and Defiance



    Doubt Atlas Reactor makes it out of this intact either
  • kathileykathiley Member UncommonPosts: 5
    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.
    Asm0deusOyjorddoomex
  • ScorchienScorchien Member LegendaryPosts: 6,871
       

                              You Reap what you Sow Trion
    Asm0deusOzmodanceratop001OyjordLark3mTacticalZombeh
  • GorweGorwe Member EpicPosts: 6,086
    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.
    Don't know, but an awful lot of E3 etc presentations sound like that. Does that mean...?
  • Sal1Sal1 Member UncommonPosts: 333
    That is very sad for these people. The Gaming industry is so cutthroat. I wouldn't accept a job in this area.
    tirwencatofmany
  • calibekcalibek Member UncommonPosts: 289

    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.
    catofmanykinkyJalepenoSolancerGdemami

    image
  • GorweGorwe Member EpicPosts: 6,086
    Sal1 said:
    That is very sad for these people. The Gaming industry is so cutthroat. I wouldn't accept a job in this area.
    Yes, yes you would. Doesn't have to be long term as long as you're doing what you like AND you are paid semi properly.
  • KyleranKyleran Member LegendaryPosts: 33,902
    edited October 2018
    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
    ConstantineMerus

    "See normal people, I'm not one of them" | G-Easy & Big Sean

    "I need to finish" - Christian Wolff: The Accountant

    Just trying to live long enough to play a new, released MMORPG, playing POE at the moment.

    Fools find no pleasure in understanding, but delight in airing their own opinions. Pvbs 18:2, NIV

    Don't just play games, inhabit virtual worlds™

    "This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon






  • cheyanecheyane Member EpicPosts: 6,375
    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 .

    OzmodanThupli
    image
  • gervaise1gervaise1 Member EpicPosts: 6,283
    edited October 2018
    deleted
  • KyleranKyleran Member LegendaryPosts: 33,902
    edited October 2018
    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/

    ConstantineMerus

    "See normal people, I'm not one of them" | G-Easy & Big Sean

    "I need to finish" - Christian Wolff: The Accountant

    Just trying to live long enough to play a new, released MMORPG, playing POE at the moment.

    Fools find no pleasure in understanding, but delight in airing their own opinions. Pvbs 18:2, NIV

    Don't just play games, inhabit virtual worlds™

    "This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon






  • gervaise1gervaise1 Member EpicPosts: 6,283
    edited October 2018
    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.
    Post edited by gervaise1 on
    Torval
  • AlbatroesAlbatroes Member LegendaryPosts: 6,484

    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.
    iixviiiixrojoArcueid
  • TheScavengerTheScavenger Member EpicPosts: 3,321
    Wonder what will happen to Trove. The only healthy game Trion had.
    Kwestorek1

    My Skyrim, Fallout 4, Starbound and WoW + other game mods at MODDB: 

    https://www.moddb.com/mods/skyrim-anime-overhaul



  • GrakulenGrakulen Staff WriterMMORPG.COM Staff LegendaryPosts: 893

    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.
    TorvalKyleran
  • SovrathSovrath Member LegendaryPosts: 27,031
    edited October 2018

    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. ;)

    Post edited by Sovrath on
    TorvalTacticalZombeh



  • KumaponKumapon Member RarePosts: 1,243

    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.
    Kyleran
  • CryomatrixCryomatrix Member EpicPosts: 2,628
    Cool, I'll buy Gamigo after I win the Mega Millions tonight.
    Kwestorek1
    Catch me streaming at twitch.tv/cryomatrix
    You can see my sci-fi/WW2 book recommendations. 
  • TorvalTorval Member LegendaryPosts: 19,657
    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.
    KumaponThupliGdemami
    take back the hobby: https://www.reddit.com/r/patientgamers/

    traveller, interloper, anomaly
    ༼ つ ◕◕ ༽つ

    It only took 3 people 8 words to rock Blizzard to its core.
  • TorvalTorval Member LegendaryPosts: 19,657
    gervaise1 said:
    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.
    I noticed that as well. Essentially Gamigo gets to pick and choose the pieces it wants to buy because the creditors are desperate enough and they're at the point of writing down what they can't. I'm inferring a bit, but I think I'm in the ballpark.

    I'm specifically curious precisely what they didn't buy.
    Kumapon
    take back the hobby: https://www.reddit.com/r/patientgamers/

    traveller, interloper, anomaly
    ༼ つ ◕◕ ༽つ

    It only took 3 people 8 words to rock Blizzard to its core.
  • KyleranKyleran Member LegendaryPosts: 33,902
    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



    gervaise1KumaponTorvalThupliConstantineMerus

    "See normal people, I'm not one of them" | G-Easy & Big Sean

    "I need to finish" - Christian Wolff: The Accountant

    Just trying to live long enough to play a new, released MMORPG, playing POE at the moment.

    Fools find no pleasure in understanding, but delight in airing their own opinions. Pvbs 18:2, NIV

    Don't just play games, inhabit virtual worlds™

    "This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon






  • linadragonlinadragon Member RarePosts: 579
    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.
Sign In or Register to comment.