Volition, a game studio that has been around for three decades, had its doors shuttered down by Swedish parent company Embracer Group. The developer, based out of Chicago, Illinois, had become a part of Embracer Group's large acquisition following Koch Media's purchase of the former THQ's bankruptcy. As a part of a massive restructuring, Volition ended up becoming the property of German-Austrian media holdings company Plaion. A statement was posted to Volition's X account:

The Volition Team has proudly created world-class entertainment for fans around the globe for 30 years. We’ve been driven by a passion for our community and always worked to deliver joy, surprise, and delight. This past June, Embracer Group announced a restructuring program to strengthen Embracer and maintain its position as a leader in the video game industry.

As part of that program, they evaluated strategic and operational goals and made the difficult decision to close Volition effective immediately.To help our team, we are working to provide job assistance and help smooth the transition for our Volition family members. We thank our customers and fans around the world for all the love and support over the years. You will always be in our hearts.

A letter to our community. pic.twitter.com/vtFM7szLbN

— Volition (@DSVolition) September 1, 2023

When Embracer Group began buying up tons of studios at a rapid pace, including business outlets like Limited Run and a stake of ownership in The Lord of the Rings entertainment rights, this lead to much promise of them becoming a major player in video games. Even if their plan was to buy low and aim high, it would take several quarters to make good on turning a profit. The success of Dead Island isn't going to make up for that, and the tepid response to the Saints Row reboot, in spite of its decent sales, leaves fans wanting more.

Volition started out developing the critically acclaimed Descent series in 1993. Under publisher THQ, they developed and released the Red Faction series, which sported a groundbreaking physics engine early in the life of the sixth generation line of consoles, and Saints Row.