It seemed like an odd decision at the time, when indie publisher Devolver (Hotline Miami, Talos Principle, Baby Steps) announced it was going to launch an IPO. Today, Game Developer reports, Devolver intends to delist and become a private company once more, because “The global video games industry has undergone a period of significant disruption and volatility.” It also happens to be the case that the company’s shares are currently valued at just $44.6 million, a colossal 95.3 percent wipeout. As a publicly-quoted company, Devolver has faced the ongoing challenge of delivering growth in line with market expectations despite those difficult sector conditions, resulting in a valuation disconnect that does not take account of the lifetime and long-tail revenue delivery inherent in the video games business. We’ve reached out to Devolver to ask about why that earlier decision was made, how it plans to afford buying itself back, and whether this will affect its publishing plans for the future.