Dino Patti Regains Control of Jumpship Studio from Thunderful
By Jumpship co-founder Dino Patti has reclaimed the studio from Thunderful.
Thunderful announced the update in an investor release, stating that it has transferred all shares of the studio to Dino Patti Retaining ApS–a company owned by Patti.
The firm also confirmed that it has reached a settlement agreement with Patti and other Jumpship executives to address any potential claims concerning an additional purchase consideration of approximately £21 million ($26 million).
The arrangement will necessitate Thunderful to pay around £750,000 (£929,000) to Jumpship Limited to cover projected winding-down costs. This will also discharge all loans extended to Jumpship, which totaled £1.3 million ($1.61 million) as of December 19, 2024.
Thunderful mentioned that this transaction is part of its previously announced cost reduction initiative, which has led to various divestitures, project cancellations, and significant layoffs.
Somerville studio separates from Thunderful, moving away from internal development
Thunderful acquired Jumpship in 2022 for an undisclosed amount. The transaction was revealed on the same day that the studio launched its first title, Somerville.
At that time, Thunderful stated that the acquisition would help it develop “strong internal IPs” and committed to collaborating with Jumpship to create “impactful narrative experiences.”
Now, just over two years later, Thunderful is attempting to cut costs and focus on third-party publishing after acknowledging that it made some “over-investments” in recent times.
In a post on Linkedin, Patti (who you may also recognize as the co-founder of Limbo developer Playdead) mentioned that Jumpship is now back under his management but requires a complete reboot.
“Following Thunderful’s acquisition in 2022 and recent alterations, I have now reclaimed the studio. Sadly, the company is currently without staff, so the future will be entirely different,” he explained. “However, with every obstacle comes a chance–it’s always about progressing with a bold and optimistic vision.”
Patti stated that he plans to guide the studio in a “completely new direction” and promised to provide more details soon.
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