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UK-based studio Antimatter Games will close its doors within the next few months.
The developer's parent, Enad Global 7, announced it would be winding down operations at the studio after "exploring various strategic options" to keep it open.
EG7 considered shifting Antimatter to a work-for-hire model, selling the studio, or finding a third-party publisher for IGI Origins, the first-person shooter the Truro-based team has been working on.
However, none of these options "produced sufficient traction within the Group's target timeline," according to EG7, which counts the studio's closure as part of ongoing efforts to improve predictability and profitability for the Group.
Antimatter Games is expected to be closed during the summer. An employee consultation process has begun.
EG7 expects the studio's closure to result in a yearly cost reduction of SEK 50 million ($4.6 million).
Antimatter Games describes itself as the largest games development team in the South West of the UK, with its LinkedIn page listing 52 employees.
The studio was formed in 2013 by former developers of Rising Storm, a standalone expansion pack for Red Orchestra 2 which released the same year.
The team also developed Rising Storm 2, and has contributed to the Killing Floor series and 2K's asymmetrical multiplayer shooter Evolve.
GamesIndustry.biz has reached out for more information on the number of staff affected, and the status of IGI Origins.