Cloud-Based Shinra Technologies to Dissolve by 2019

Cloud-Based Shinra Technologies to Dissolve by 2019

Just when it began...

Michelle McLean by Michelle McLean on Jan 05, 2016 @ 11:59 PM (Staff Bios)
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Well, that was short-lived, but Shinra Technologies, the cloud-gaming business, is going to be shutting down, according to an announcement from Square Enix. As a result of the closure, the company will be losing a hefty sum of 2 billion yen.

The details are as follows within the press release:

"STI, as a cloud platform operator, has been trying to raise funds necessary for further business operations from third party investors. However, STI has found no prospective investors at this point, and therefore has to discontinue its business."


It was originally supposed to bring to the table a new way to stream AAA games, but unfortunately, that wasn't the case. STI had offices stationed in Montreal, New York, and Tokyo.

Either way, the dissolutions are estimated to be completed in New York by March 31, 2019 and Tokyo by June 30, 2016.

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