Kalisto files for bankruptcy

Kalisto has succumbed to its long-running financial woes following a terrible year which saw its share price slump almost 95% after a collapse in revenues last spring. The company finally threw in the towel and declared bankruptcy last week after its latest refinancing plan was blocked by the French stock market's regulators. It's now expected that a larger company will move in to take over the ailing developer, which is currently valued at just €18m. Infogrames has its own problems and has already ruled itself out of the bidding according to a report in the Financial Times, which leaves Ubi Soft as perhaps the most obvious buyer - the French publisher has seen sales booming in recent months, and has already bought the likes of Red Storm, Blue Byte and GAME Studios in the last couple of years. If it has any spare change left down the back of the sofa it could try to rescue Kalisto, which is working on a new Nightmare Creatures game for them at the moment. The sequel was only officially announced two weeks ago, but already its future is in doubt unless somebody steps in to rescue the developer. Other projects under threat include a spooky console platformer called Halloween which was due to be published by Wanadoo this fall, while a massively multiplayer Highlander game was also under development at Kalisto at one point. Related Feature - Ubi Soft to publish Nightmare Creatures 3

Source - FT.com / Reuters