http://www.pcgamer.com/gigantic-developer-motiga-has-shut-down/

Motiga, developer of free-to-play hero shooter Gigantic, nearly shut down last year when boss Chris Chung gathered all 75 employees and told them that the studio had run out of money. But the team showed up to work regardless, and soldiered on until publisher Perfect Games swooped in to acquire the company. Unfortunately, Perfect Games has now decided that the developer isn't profitable enough, and has closed Motiga's doors once and for all.

That's according to Motiga chief executive Chris Chung, who told Destructoid: "It was a budgetary decision at the highest level. Perfect World as a public company has a profitability goal and they decided to cut parts of the company that were not profitable. In short, Gigantic was not making enough revenue."