Singapore E-sports company closes down due to financial difficulties

Singapore-based e-sports company Titan, is near to closing due to financial difficulties, local media reports.

The professional gaming organization, which was home to several top professional e-sports teams, including CS:GO and Smite, made the announcement on its website on Jan. 13.

A high-profile cheating scandal in late 2014 tarnished the company’s reputation, made new business deals with sponsors and potential partners difficult, which led to financial difficulties, the company’s founder and CEO Damian Grust said in the announcement.

"We fought the entire year, trying to secure sponsorships that would enable us to keep a struggling, but great CS:GO team as well as our SMITE team," Grust wrote.