Sony Closes Firewalk Studios and Neon Koi Less Than Two Years After Acquisition

Oct 29, 2024, 06:05 PM

Sony Interactive Entertainment has announced the shutdown of Firewalk Studios, less than two years after acquiring the developer of the PlayStation 5 shooter 'Concord'. The move follows the game's disastrous launch in August and its permanent sunsetting. Sony is also closing mobile game developer Neon Koi as part of its efforts to meet near and long-term business priorities. The closures were confirmed in an internal email from Herman Hulst, CEO of Sony Studio Business Group, who stated that considerable time had been spent exploring all options before determining the best path forward. Sources familiar with the agreement revealed that Concord's development deal at Firewalk Studios was valued at $200 million, not including marketing, IP rights sale, or the game's delayed launch.