Now it's a medical company

After 20 years publishing video games, Majesco has officially bowed out of the industry. It's not disappearing entirely, though; it's just operating with an entirely new purpose.

As reported by Polygon, Majesco has merged with PolarityTE -- a biotech company that specializes in regenerative tissue technology. It seems as if Polarity will be a wholly-owned subsidiary of Majesco, but Majesco will drop its name and operate under the Polarity banner. The ownership and naming dynamic may be a little confusing, but one thing is certain: Majesco is squarely out of the entertainment business.

This news probably won't shock anyone who has followed Majesco's monetary situation over the past few years. Majesco had been in constant financial peril. Eventually, it shuttered Midnight City, its indie publishing division. In the middle of 2015, the last of Majesco's founding family left the company; David Rector, Majesco's new leader, made his fortune not in video games, but in gold mining and energy.

This year has been almost completely quiet for Majesco on the video game front. The final games it published both released in January -- console ports of Gone Home and A Boy and His Blob. It was, however, active on Twitter as recently as June with this weirdly enthusiastic endorsement of ABC's BattleBots:

Our favorite shows is on ABC tonight! Tune in for the Season Premiere of @BattleBots tonight at 8|7c on ABC! pic.twitter.com/16YaFoa2DB — MajescoEntertainment (@Majesco) June 23, 2016

Majesco merges with medical technology company, exits games business [Polygon]