Austria-based developer Deep Silver Vienna has been closed, parent Koch Media has confirmed.
The studio was formed by ex-Rockstar Vienna bosses Hannes Seifert and Niki Laber in 2006 as Games That Matter, before being purchased the following year by Koch and integrated into the publisher’s Deep Silver label.
It was jointly responsible for Wii exclusive horror Cursed Mountain, a collaboration with German team Sproing, and was working on action biker title Ride To Hell with UK studio Eutechnyx. The PS3, Xbox 360 and PC game will now be managed from Koch’s Munich offices.
In a statement, Koch told Develop “this decision is not easy for us” and cited “the current overall economic situation” as the reason behind the closure.
German reports indicate that the studio’s 20 or so employees will be paid until the end of March, and that co-founder Seifert has taken a creative director role at Square Enix.