The EG7 drama looks like it’s not letting up, with Daybreak looking like it may have sold Cold Iron Studios.
Yesterday, we reported EG7’s co-founder and CEO Robin Flodin was stepping down. The new acting CEO of EG7 will now be Ji Ham who is Daybreak’s current CEO. The announcement occurred last week in a press release with Alexander Albedj, Chairman of the EG7 board, commenting,
“The transition to new leadership is a natural part to be even more successful in the next phase of growth. Ji has experience in leading and growing gaming groups with a global reach as well as an extensive and highly successful background in strategic and synergistic acquisitions in gaming. I am extremely proud to have been associated with EG7 during Robin’s tenure as CEO as the company has grown from its humble beginnings as a local game consulting company into a global gaming group, and I personally thank him for his devotion to the company.”
In December of last year, EG7 had acquired Daybreak Game Company for $300 million in addition to Priahna Games and publisher Innova. However, sometime between then and now, it looks like Daybreak may have sold off Cold Iron Studios.
This was reported by our friends at MassivelyOP who noted Daybreak had deleted a press release which announced their acquisition of Cold Iron Studios. Fortunately, because Wayback Machine is a thing, you can check out that press release here.
However, as MMO Fallout notes, EG7’s financial report does not include Aliens: Fireteam Elite (our review here). In fact, it appears the Cold Iron Studios trademarks and logo are missing from Daybreak’s profile. However, as MMO Fallout notes, Cold Iron Studios LLC owns their trademark as of August 4 and not Daybreak.
It should be noted Craig Zinkievich of Cold Iron Studios did reference a sale during an interview from March.