Square Enix Kills Shinra Technologies
Brendan    2016-01-06, 04:27 am.

In September 2014 developer and publisher Square Enix unveiled a new cloud platform subsidiary, Shinra Technologies, and has today announced that company's dissolution. The stated objective of Shinra Technologies was to develop and deliver games through an innovative cloud-based service. Despite having some big name studios behind it, the venture produced little in the way of tangible results to anyone outside of the company itself. A press release from Square Enix offers a more specific reason for the dissolution of the business:

STI, as a cloud platform operator, has been trying to raise funds necessary for further business operations from third party investors. However, STI has found no prospective investors at this point, and therefore has to discontinue its business.

Shinra Technologies was led by Yoichi Wada, the former head of Square Enix itself, and the closure of Shinra Technologies will see the main company post "an extraordinary loss" of roughly 17 million USD. The offices of Shinra Technologies in New York, Montreal, and Tokyo will also be shuttered as a result.

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