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Vancouver-based 'Social Strategy' Gaming Company A Thinking Ape Announces Company Restructuring and Layoffs
Tuesday, May 7, 2024Company Profile | Follow Company
Vancouver, BC, May 7, 2024--(T-Net)--A Thinking Ape, a Vancouver-based company that builds 'social strategy' games has made a brief announcement on their social media channels that the company has had to restructure its operations, and lay off a number of its staff.
T-Net readers may recall that A Thinking Ape was acquired by Swedish video gaming giant Embracer Group AB, through its wholly owned subsidiary DECA Games, for $28 Million US (plus Substantial Earnout Provisions) in November 2020, with completion in early 2021.
In related news, ATA acquirer Embracer Group, which has had a rough ride on stock markerts lately with its share price declining approximately 51% over the past year, announced on April 22nd its intention to transform into three standalone publicly listed entities at Nasdaq Stockholm, to "unlock value in the high-quality assets of Embracer Group" following the completion of the company's restructuring program.
There is no word on whether the layoffs and restructuring at A Thinking Ape are related to the above noted restructuring and reorganizations being undertaken at Embracer Group.
A Thinking Ape says it is looking for help from within the game industry community in finding new opportunities for the staff being let go.
A copy of the company's announcement is embedded below:
About A Thinking Ape
Mission: We build social strategy games that people play for decades.
We create mobile games with a social core that engage players and provoke us with creative new problems.
When we set out to make great games with massive online communities, we knew that we first had to create the ideal environment for building ambitious things. A place where brilliant and inspiring people could come together and build games that make millions of players happy. We realized that we needed to find incredibly talented people and get out of their way. Since then we've paid careful attention to how we like to work together.
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