mTw, one of the oldest and most successful organisations in esports, have officially confirmed that they have closed their doors.
The German organisation had been tipped to cease all operations since it was reported that they were battling financial problems, which resulted in their CS:GO squad going freelance.
mTw have now confirmed via their website that they have decided to shut down the organisation, putting an end to an illustrious 15 years in esports.
"We regret to announce that mTw will be closed after 15 successful years," an mTw statement read. "In recent weeks, we had found that the business model for eSports organisations was no longer viable in its long-standing form.
"Under these circumstances, and combined with the lack of a stable economy, it was no longer possible. Therefore, we have decided to end this chapter for mTw. If and when the next chapter is written, is still unknown.
"Once again, we guarantee that if a sustainable existence is possible and if we can give our teams the support they need, mTw will be back.
"Until then, we would like to wish our former teams and partners all the best on their way forward and to thank our fans who made mortal teamwork so special over so many years."
One of the first German organisations to support Counter-Strike, mTw had back in 2002 a highly-successful Swedish team who featured the likes of Abdisamad "SpawN" Mohamed, Michael "ahl" Korduner and Christer "fisker" Eriksson.
After the Swedish players decided to play under the name team9, mTw decided to focus on the German CS market, until 2007, when the organisation merged with NoA and brought the ESWC runners-up on board.
The Danish team enjoyed a dominant year of 2008 under mTw's banner, winning tournaments like the KODE5 Global Finals, ESWC Masters Paris, the World e-Sports Masters and the World Cyber Games.
In November 2011, mTw decided to release the Danish team after supporting it for almost four years as they struggled to find a stable lineup following the retirement of Alexander "ave" Holdt.
When CS:GO was released, mTw's highly-successful CS:Source division switched to the new game, but constant roster changes and a series of mixed results made the team take a break from all competitions to find some much-needed stability.
After picking up Andreas "MODDII" Fridh and Lasse "stingeR" Midstue, the team decided to part company with mTw, and are currently known as Torqued until they find a new organisation to represent.