on 4 August 2004. Due to this insolvency, multiple developers, including
Stardock and
Paradox Interactive, did not receive royalties for their respective games published by Strategy First. Subsequently, Polish developer
Techland cut all ties with Strategy First, disallowing Strategy First from distributing any Techland product, effective on 18 September. Silverstar Holdings, a
public company based in
Boca Raton, Florida, that specialized in the acquisition of pay-to-play businesses, announced on 22 April 2005 that it had acquired Strategy First from the bankruptcy proceedings. The company contributed in cash and 400,000 shares of
common stock to Strategy First's creditors, while also assuming of Strategy First's existing debt. Clive Kabatznik, the
chief executive officer (CEO) of Silverstar Holdings, stated that the company intended to use Strategy First as a niche publisher, in parallel to its other recent acquisition,
Empire Interactive, which Kabatznik described as a "more fully fledged publisher". In April 2005, Strategy First acquired and absorbed all assets of
Santa Rosa, California-based developer Malfador Machinations. That company's
president and CEO, Aaron Hall, joined Strategy First's management team as a result. In March 2009, Silverstar Holdings was delisted from the
NASDAQ stock exchange. Subsequently, Empire Interactive was put into
administration in May, with 49 out of 55 positions terminated. == Games ==