Don't worry Gearbox fans, the Dungeon Siege developer is alive and well, it's Timegate, the one that they farmed out a lot of the mechanics to, has shut down following its bankruptcy filing last week, with all staff laid off and everyone sent home early.

There's no official announcement on the company website, or its Twitter account, but Kotaku has apparently spoken with sources close to the developer who individually confirmed the same thing.

Time to… gate a new job… right guys? I'll be here all week.

Timegate worked on some elements of Aliens Colonial Marines and unfortunately for the studio, that's likely to be its legacy at this point, due to the colossal flop of the hotly anticipated Aliens game. However, it wasn't the only project the company worked on. Up until recently it was building a PvP blocky shooter similar to Ace of Spades called Minimum and had previously developed FEAR expansions Perseus Mandate and Extraction Point.

KitGuru Says: It's always a shame when studios go under, but Timegate took a real tarnishing to its name with Colonial Marines; a stink that would have been hard to wash off. 

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