CrytekLogo_RGB 26 Jul

Following numerous reports of financial trouble at Crytek, the company has clarified in a statement to GamesIndustry International that it has “been in a transitional phase” as it transforms from being a developer to an online publisher.

A transition which required significantly more capital, that the company says it has secured and is now prepared for the long term.

“In recent weeks, there have been repeated reports and rumors relating to financial problems at Crytek. Having already given an update to staff across all our studios, we are now in a position to share more details with members of the press and public,” the statement reads, in part. “Internally, we have acknowledged that the flow of information to employees has not been as good as it should have, however we hope you understand that communicating details of our plans publicly has not always been possible.”

“Like the games industry as a whole, Crytek has been in a transitional phase. Our evolution from a development studio to an Online-Publisher has required us to refocus our strategies. These challenges go along with an increased demand for capital which we have secured.”

“We can now concentrate on the long term strategic direction of Crytek and our core competencies,” the statement continues. “Ultimately, with our organization, capitalization, portfolio and technologies we have now laid the foundations for securing Crytek’s future – not just in the short term, but also long term.”

(via CVG)