Following being sold off by SEGA, Relic Entertainment has now announced that it will continue operations as an independent development studio.

Important Update from Relic Entertainment pic.twitter.com/nCcF8olDaC

— Relic Entertainment (@relicgames) March 28, 2024

On their X/Twitter page, Relic Entertainment said that the decision was possible thanks to the help of an external investor.

Furthermore, they reassured players that Relic Entertainment will continue to support their titles even after they’ve turned independent. This includes Company of Heroes 3, in which the developers are looking forward to the April update.

They’ve also thanked SEGA for their support and guidance over the years.

“We want to thank SEGA, whose support over the years and guidance during the transition have been instrumental to our success,” read the post. “We might be out of the SEGA business, but we remain friends and colleagues.

“We are excited about this next chapter for Relic, and we hope you will all join us in creating new experiences for our fans.”

Just yesterday, SEGA announced in a financial report that the company is undergoing structural reform, citing that the business environment surrounding the Consumer area has been rapidly changing, especially in the European region. Coupled with the economic downturn, this has caused profitability to be lowered for SEGA.

As a result, SEGA has decided to implement a structural reform, which resulted in the transfer of shares of Relic Entertainment, effectively selling off the company. As well as layoffs of approximately 240 roles in the European region.

The SEGA layoffs are now another addition to a long list of layoffs that have been affecting gaming companies in the past few years, with many other high-profile companies such as Take-Two Interactive, Electronic Arts, and Sony Interactive Entertainment all being affected by layoffs.