Valkyrie Studios, Inc. was an independent developer formed shortly after Viacom disposed of its interactive game businesses in 1997. The studio was founded by former Viacom New Media developers. Their first project was Septerra Core: Legacy of the Creator, a game in production at Viacom New Media prior to its closure. After acquiring the rights to Septerra Core from Viacom and securing a publisher, Valkyrie Studios shipped what would be their first and only game on October 31, 1999. The studio then began work on what was to be their second release, Seraphim. Unable to find a publisher for Seraphim, Valkyrie Studios closed in March 2001.