Even though they had a massive presence at Gamescom in cologne, Germany, last year, Sega has decided to not be present this year. What they are basically saying is, that none of their titles for 2012 would profit from being shown there. They issued the following statement:
Unfortunately the release timing of our 2012 AAA titles and new projects don’t work with the mid- August scheduling of the show. The decision will not mean that Sega will never attend Gamescom in the future, this was simply a commercial decision made for 2012.
So, after Nintendo, Sega is the next big developer not being present at the most importent videogame convention in Europe. That’s pretty damn sad.