Embracer Group Have Announced The Acquisition Of Eight Companies In The Video Game Industry
Embracer Group is a parent company to many businesses in the video game industry and develops and publishes games on PC, console and mobile platforms. Embracer Group is formerly known as the more familiar THQ Nordic, and has various successful franchises under its belt including Saints Row, Dead Island, Darksiders, Borderlands and more. In a recent release, the company confirmed the acquisition of eight companies with various specializations including mobile gaming, indie development, virtual reality, retro shooters and more.
The acquisitions are estimated to account for SEK 2,000-3,000 million or approximately USD$200,000. The total purchase price for the transactions amounted to SEK 2.7 billion and the management teams of the companies have steady plans for growth in the upcoming years.
Lars Wingefors, Group CEO of Embracer, noted, “I am excited to welcome more than 500 great talents across a wide range of well established businesses that further diversify and strengthen the group across the world from day one. Brick by brick we continue to improve our operating groups and consequently Embracer as a whole. We still have a strong balance sheet with a sizable net cash position to support further M&A going forward. We continue to have many ongoing discussions with entrepreneurs, creators and companies to join the family, including large or transformative companies that would create new operating groups. I’m looking forward to continue growing the Embracer Group both organically and in-organically the decades to come.”
On the strategic rationale behind the acquisitions, the release stated that Embracer Group will develop and scout talent across the industry and with additions such as Deep Rock Galactic and Super Stylist, the portfolio has improved. Other acquired companies include Deca Games, Crazylabs and Ghost Ship.