Starbreeze and Smilegate reach agreement to discontinue the Crossfire project and Starbreeze will post an impairment loss of SEK 111 million in the fourth quarter of 2019
STOCKHOLM (December 6, 2019) – As part of the reconstruction process for Starbreeze, the company has reached agreement with Smilegate on amended convertible bond terms and other dealings related to the Crossfire game project. The parties have decided to discontinue the collaboration related to the Crossfire project. For Starbreeze, this will entail an impairment loss of SEK 111 million in the fourth quarter of 2019, attributable to capitalized development costs. The impairment loss is for accounting purposes only and will have no effect on the company’s liquidity. With the intention of