PiranhaBytes Studio Ceases Operation after Embracer Group's Support Ends

TapTechNews July 8th news, according to the German media CDAction report, a former employee disclosed that PiranhaBytes studio which had developed the 'Gothic' series and the 'ELEX' series of games stopped its operation at the end of June after the financial support from its parent company, the Embracer Group, ended and it failed to find a new owner or publisher.

PiranhaBytes was founded in 1997 and was acquired by the Embracer Group in May 2019.

It is reported that the studio had hoped to obtain a sum of money to use the Unreal Engine 5 to develop a dark fantasy new work similar to 'Gothic'.

The former senior employees and game designers, the couple Björn Pankratz and Jennifer Pankratz, left the studio last year and announced today the establishment of a new studio, PitheadStudio, to develop indie games.

TapTechNews previously reported that the Swedish game group Embracer announced last year that it would restructure its business for the purpose of cutting expenses, and has already sold or closed a number of game studios, and announced in April this year to split into three independent companies.