Only source at the moment is a NeoGAF mod making a thread on it: http://www.neogaf.com/forum/showthread.php?t=1295545
To add some credibility to the rumor, United Front Games' SMASH+GRAB can no longer be bought on Steam http://store.steampowered.com/app/412720/
From a Video Game Producer at United Front Games:
Currently mourning the best job I've ever had, and the most wonderful team I've ever worked with.
The end of a great era.
Goodbye, UFG.
— Jen Timms (@Scarlettjen) October 18, 2016