February 9th, 2009 by Arjan Olsder Posted in Companies & M&A | No Comments »
In their efforts to become profitable again, Eidos and Matt Spell announced that Matt is buying back ownership over the Gemme5games company (formerly known as Morpheme).
Back when Eidos bought the studio, the company had just started to transform from a mobile games developer to a casual games developer. Under Eidos' flag, the company managed to grow and gain it's position in the market.
Now, a few years after the acquisition, the company is independent again and Eidos can focus on it's core business and titles again.
What Matt needed to pay for this transition is unknown, but something gives us the feeling that he made profit in this deal (given the fact that Eidos already closed several mobile gaming studios it acquired around the same time).
“This is the best route for all parties involved,” Spall stated. “We understand we're not the focus of Eidos' business right now, but we passionately believe in our business and this way the team here are free to explore new and exciting business opportunities.”
Read the original story here.
