Sega Sells Relic, Cuts European Staff and Cancels Projects

Sega Sammy Holdings has announced the sale of Relic Entertainment. The Canadian studio, best known for Company of Heroes, Dawn of War and Age of Empires 4 for Microsoft, will leave the group. Together with an external investor, the Canadian company will continue to operate as an independent studio. "The transferee is a holding company to be newly established by the UK investment company Emona Capital LLP, but details will not be disclosed due to the request of the transferee," Sega said. As a result, a business restructuring loss of approximately 4.7 billion yen, or about 28.8 million euros, is expected to be recorded as an extraordinary loss. Relic plans to continue working on its previous projects, including Company of Heroes 3. The company became part of Sega at the beginning of 2013. The Japanese publisher bought the shares for just under 26 million dollar following the bankruptcy of parent company THQ.

Sega Sammy Holdings has announced the sale of Relic Entertainment. The Canadian studio, best known for Company of Heroes, Dawn of War and Age of Empires 4 for Microsoft, will leave the group. Together with an external investor, the Canadian company will continue to operate as an independent studio. "The transferee is a holding company to be newly established by the UK investment company Emona Capital LLP, but details will not be disclosed due to the request of the transferee," Sega said. As a result, a business restructuring loss of approximately 4.7 billion yen, or about 28.8 million euros, is expected to be recorded as an extraordinary loss. Relic plans to continue working on its previous projects, including Company of Heroes 3. The company became part of Sega at the beginning of 2013. The Japanese publisher bought the shares for just under 26 million dollar following the bankruptcy of parent company THQ.