Call of Duty: Black Ops Declassified developer Nihlistic Software has announced plans to exit the boxed game business. As revealed in a post on Twitter , the company is “sad to announce Nihilistic will be exiting boxed game development & re-forming as new company for digital/online.”

A statement on Nihlistic’s official site reveals that the company will now be called nStigate, “a new company focused on downloadable, on-line, and mobile games.” The statement specifically says that it is “making this transition without any planned layoffs or leaving any debts behind” and can be read in full below:

“There’s no bigger cliché in the videogame industry right now than to say that a studio is re-organizing itself away from retail game development and toward the new challenges of downloadable and mobile games. Everyone knows retail sales are down, publishers are hurting, independent developers are suffering, blah blah blah. With this in mind, Nihilistic is announcing today that (OMG!) we are re-organizing our company after 14 years of working with retail boxed game development, and re-forming as nStigate Games, a new company focused on downloadable, on-line, and mobile games.

So is this newsworthy? Well, honestly it probably isn’t, except that we are making this transition without any planned layoffs or leaving any debts behind. Nihilistic will fade into the sunset the way it started; a collaboration of talented folks dedicated to transparency and respect for employees. Over the next couple months we’ll get leaner as some of our talent finds new homes, and emerge as a smaller and more focused company.

The future for nStigate is yet to be written, but the history of Nihilistic is coming to a close. We thank all the people who have worked here over the last 14 years. It’s been a privilege and a joy to serve our players for the past years. We love what we do, and we love it when you guys like it. Thank you for playing.”

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In a separate Tweet , Nihilistic writes that "Our re-org has no effect on current projects as the transition will be relatively gradual between now and December."Nihilistic most recently developed Call of Duty: Black Ops Declassified for Vita, which is scheduled to be released in November. Prior to that, the studio developed Resistance: Burning Skies for Vita and PlayStation Move Heroes for PlayStation 3, as well as Marvel Nemesis: Rise of the Imperfects for GameCube, PSP, the original Xbox and PlayStation 2.We’ve reached out to Sony and Activision about whether or not this will affect the release timing of Call of Duty: Black Ops Declassified or its planned Vita bundle and will update with any additional statement we receive.

Andrew Goldfarb is IGN’s associate news editor. Keep up with pictures of the latest food he’s been eating by following @garfep on Twitter or garfep on IGN.