Joint administrators Asher Miller and David Rubin of David Rubin & Partners have announced that Argonaut subsidiaries Just Add Monsters Limited and mobile developer, Morpheme Limited, have had both their assets and businesses sold to an all-new trading entity controlled by Jez San, the founder and former CEO of largely defunct parent company.
Arriving a few days after the company was placed into administration
, a move that saw both Jez San and his father Aaron announcing their resignation from the board of Argonaut Games plc, the deal leaves the status of Edgware-based development studio Argonaut Software Limited up in the air, with the administrators still in negotiations with a number of parties. The Sheffield offices of Argonaut have reportedly closed entirely.
"We are pleased to announce the sale of these two businesses as going concerns. This has saved over 40 jobs as well as the substantial employment claims that would have arisen had the sales not been achieved", commented administrator Asher Miller.
Founded in March 2000 as an independent developer, Cambridge-based studio Just Add Monsters was originally acquired by Argonaut later in 2000. Responsible for Xbox party-action game Kung Fu Chaos
, as well as being formerly involved in titles including the MediEvil
series, Just Add Monsters
is currently working on next-generation title, provisionally titled Heavenly Sword
. Meanwhile, North London-based mobile developer, Morpheme was formed in 1999, and has been responsible for various titles across mobile platforms, including wireless title Balloon Headed Boy
and upcoming N-Gage title, Bluetooth Biplanes
. The company was originally formed by industry veterans Andy Fitter, Lucy Reed and Matt Spall.
Parent company Argonaut harks back to 1982 - its history includes important '80s 3D title Starglider
, and collaboration with Nintendo on the SNES SuperFX chip, which included development of Star Fox
and Stunt Race FX
. The company was also behind PlayStation platformer Croc
in 1997 and, in more recent years, developed SWAT: Global Strike Team
, and repeatedly delayed, recently released former Xbox exclusive, Malice