Our comments and trackback policy You Link We Follow, You Comment We Promote

Game developer WildTangent has shut down its internal development studio resulting in the lay off of 20% workforce. Furthermore the CEO has been promoted to the Chairman of the Board. Mike Peronto has taken the charge of the CEO.

According to WildTangent’s spokesman:

We did close our game development studio a few weeks ago. We’ve grown the other pieces of our business – publishing and advertising sales – so much that we simply had to focus resources on the areas of the business that have the greatest potential for long-term growth. As you know, we now have more than 600 games in our network so we are providing our customers with the games they want without the need to continue investing in a game development studio.

Furthermore he added:

Despite the challenging economic times, Wild Tangent continues to grow rapidly. Our software is now distributed on virtually every consumer PC in North America and many others around the world. Just last month, we surpassed both MSN and Disney to become the third largest game network in North America and the largest privately held game network in the world (comScore).

[via GameDaily]