As we noted here almost a year ago, the now-defunct Swedish developer GRIN made three shitty games in a row, and consequently rolled over and died. A few stragglers formed Outbreak Studios before the body of their former employer got cold, and it seems that the new development house is still (ostensibly) a going concern. Outbreak's claim to fame so far is that its founder developed the network engine for a handful of games, though he apparently did all that a long time ago.
Today, a few remaining GRIN-ites announced the formation of Whiteout Studios, which according to Blue's News already has a game under development using Crytek's Cry Engine 3. That's a hell of an expensive license, and it's somewhat remarkable that a team with Whiteout's track record managed to grab the start-up money it needed.
We won't see the game for a while, but it's never too early to say "caveat emptor."
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