Fishlabs ‘terminated’ after sale to unknown buyer

MCV Staff 2nd December 2013 Business News

Mobile gaming company Fishlabs will be ‘terminated’ after being sold to an unnamed party, says co-founder Michael Schade.

Both Schade and co-founder Christian Lohr are to depart the Galaxy on Fire developer, andSchade told PocketGamerthat since the agreement is an asset deal” under German labour law, all employees will be transferred to the buyer automatically".

As a result of the buyout, the entity Fishlabs Entertainment GmbH will cease to exist.

The deal has not been officially announced so it’s unclear if it has been set in stone, but any layoffs will take place after all employees have been transferred to the new company.

Head over to Develop for more details.

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