This past June, Embracer Group announced a restructuring program to strengthen Embracer and maintain its position as a leader in the video game industry. As part of that program, they evaluated strategic and operational goals and made the difficult decision to close Volition effective immediately.
To help our team, we are working to provide job assistance and help smooth the transition for our Volition family members. We thank our customers and fans around the world for all the love and support over the years. You will always be in our hearts.
-- Volition Games, in a message posted to Volition's official LinkedIn page, GEMATSU.com, Volition Shuts Down After 30 Years, 31 August 2023