The Next Web (TNW), the annual Amsterdam tech conference and news website bought by the Financial Times in 2019, is winding down.

TNW is ending events and media business by the end of September “following a strategic review”, the FT confirmed to tech news website Sifted.  Sifted is also an FT franchise.

“This decision was communicated to affected staff in June and we are supporting them through this transition,” the FT told the website. The co-working business in Amsterdam will continue to operate, Sifted said.

TNW held its last event in June at the former NDSM shipyard on Amsterdam’s waterfront, with over 5,800 registered attendees and over 200 speakers.

The TNW conference was founded in 2006 by Boris Veldhuijzen van Zanten and Patrick de Laive, growing to 17,500 attendees by 2019.

Remco Janssen, writing on Amsterdam tech news website Silicon Canals said the FT has “killed one of the coolest, best things we had in the Netherlands. In Europe’s startup scene, for that matter.”

“This is precisely the moment when Europe needs a strong tech ecosystem more than ever,” he said.