Borderlands Online, a new multiplayer game based on Gearbox's popular shoot-and-loot series made for Asia, has been canceled. In addition, its developer, 2K China, has closed.

Borderlands: The Handsome Collection

The studio, based in Shaghai, employed around 150 people, according to Games Industry International. Borderlands Online was canceled, according to parent publisher Take-Two Interactive, because it was determined that the game "would not yield a favorable return."

"We are excited about the opportunities to expand our business in Asia, and we remain committed to delivering AAA offerings for that region," the company said in a statement. "At this time, we can confirm that we are closing 2K China. We determined that the additional time required to finish current projects at the studio, particularly Borderlands Online, would not yield a favorable return on investment."

The closure of 2K China does not affect the company's office in Singapore, the testing group in Chengdu, or the NBA 2K Online team (which is also based in Shanghai), Take-Two said.

"We are working with affected staff to identify other opportunities within the company where possible," the company added.

Finally, Take-Two said this news does not affect the upcoming launch of Civilization Online, which is slated to debut in Korea in Take-Two's current fiscal year.

A new Borderlands game is currently in development at Gearbox and is being made "specifically for next-gen."