Jumpship co-founder Dino Patti has reacquired the studio from Thunderful.
Thunderful shared the news in an investor update and explained it has transferred all shares in the studio to Dino Patti Holding ApS–a company owned by Patti.
The conglomerate also confirmed it has entered into a settlement agreement with Patti and other Jumpship leaders to settle any potential claims relating to an additional purchase consideration of up to roughly £21 million ($26 million).
The transaction will require Thunderful to pay around £750,000 (£929,000) to Jumpship Limited to cover expected winding-up costs. It will also waive all loans provided to Jumpship, which amounted to £1.3 million ($1.61 million) as of December 19, 2024.
Thunderful said the deal is part of its previously announced cost savings program, which has resulted in other divestments, project cancelations, and mass layoffs.
Somerville studio jumps ship with Thunderful moving away from internal development
Thunderful acquired Jumpship in 2022 for an undisclosed fee. The deal was announced on the same day the studio launched its debut title, Somerville.
At the time, Thunderful said the move would help it build “strong internal IPs” and pledged to work with Jumpship to create “impactful narrative experiences.”
Now, just over two years later, Thunderful is attempting to reduce costs and focus on third-party publishing after admitting it made some “over-investments” in recent years.
In a post on Linkedin, Patti (who you might also know as the co-founder of Limbo developer Playdead) said Jumpship is back under his control but needs rebooting completely.
“After Thunderful’s acquisition in 2022 and recent changes, I’ve now reacquired the studio. Unfortunately, the company is now empty of employees, so the road ahead will be entirely different,” he added. “But with every challenge comes an opportunity–it’s always about moving forward with a bold and bright vision.”
Patti said he intends to take the studio in a “completely new direction” and promised to share more details soon.