The CEO and founder of publisher Headup, Dieter Schoeller, has explained why its former parent company Thunderful Group sold the label. 

Speaking to GI.biz, the exec said that the European giant's publishing business looked to become too complicated as its priorities changed. Furthermore, Schoeller speculates that Headup might have been "too quirky" for Thunderful. 

"Thunderful went in a different direction over the years, building up another publishing department in the UK," he said. 

"So we ended up having a strategy of potentially two labels, me being on the indie side and the core business being more on the British side for the bigger productions." 

He continued: "I think Headup might have been a little bit too quirky for a bigger, larger corporation which tries to streamline its operations."

Headup was bought out by Microcuts Holdings, a company that Schoeller had set up. The firm recently revealed it was rebranding its internal development studio to Goon Squad.