Games company searches for buyer as a smaller entity

Following the news that Dundee-based games company Realtime Worlds had fallen into administration, some of the staff have been re-employed as the firm hunts for a buyer as a smaller entity.

Twenty-three of the 60 staff have been given a reprieve after they were made redundant prior to the company going into administration last Tuesday.

The company is now searching for a buyer and, in its new guise as a smaller entity, is attracting 'considerable interest' from potential buyers, according to Ken Pattullo, joint administrator at administrators Begbies Traynor.

The 23 staff will continue to develop Realtime Worlds’ MyWorld 3D social gaming project, which had originally been scheduled for launch in 2011.

“MyWorld is attracting considerable interest from potential buyers and 23 members of the team who had been working on the project clearly add value to it as a standalone business,” he added.

The administrators said that potential buyers from the UK and US have expressed interest in purchasing Realtime.

“We are actively pursuing all these expressions of interest,” joint administrator Paul Dounis said.
Dounis added that Realtime was continuing to trade, and that the company’s latest gaming title, online action game ‘APB: All Points Bulletin’ can still be played as its servers were still running.

Share this article

Latest Businesses for Sale

View more businesses for sale