Microsoft has signalled its intention to close down Hellblade developer Ninja Theory after two deals to save the Xbox studio fell through.

At the time, Xbox announced that Ninja Theory would merge with Undead Labs while attempting to transition to new ownership, with funding intended to grow the Senua franchise and continue work on State of Decay 3. Unfortunately, the buyout did not go through, with Undead Labs becoming independent while Ninja Theory was ultimately shut down.

Xbox is moving to close Hellblade studio Ninja Theory after two buyout deals fell through, leaving the future of the newly announced Senua unclear.

Hellblade devs Ninja Theory now face closure after the failure of agreements with potential buyers, but Microsoft are "continuing to explore other paths".

Ninja Theory - developer of the Hellblade series - is shutting down as part of today's Xbox cuts. Its proposed buyers pulled out, resulting in the closure.

Why did Ninja Theory fall into a crisis of closure?Ninja Theory is a game development company founded in Cambridge, UK, in 2000.Starting with "Kung Fu Chaos," they worked on titles such as "Heavenly Sword,

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XBOX said it is cutting more than 260 jobs across Halo Studios, other first-party studios and the XBOX Games Studio management team.