Polish games firm Bloober Team has withdrawn from M&A discussions.

That's according to Bankier.pl – as spotted by VGC – which says that the company issued a press release saying that it was now in talks about a "strategy cooperation with one of the industry's entities" as opposed to being bought or selling a large part of the company.

"The company has decided not to continue discussions with potential financial and industry investors interested in acquiring a majority stake due to the high risk of losing its overriding strategic objectives,” Bloober said.

“At this stage it would be incompatible with the culture of the organisation, and would significantly limit the potential growth of the company’s value in the coming years, especially taking into account the projects implemented and planned.”

Bloober Team revealed in June 2020 that it was in merger and acquisition discussions, initially with 12 companies, but this was reduced to six. Three were from the USA, two were from Poland while another was from the UK.

Given that the firm has had a tight relationship with Microsoft in recent years, it wouldn't be surprising to see Bloober enter into some kind of partnership with the Xbox maker.

The company does also have some spare cash right now and it appears to be interested in making investments in other firms.

At the start of 2021, Bloober released The Medium for Microsoft platforms and is also working with a "very famous" publisher on a horror IP. There's been speculation that this is the Silent Hill franchise. In September last year, the firm said that it wants to be a top dog in the horror genre.