☰
Embracer Group, a renowned video game holding company and owner of THQ Nordic, has reportedly purchased Saber Interactive, a US games developer, in a deal worth $525 million.
Embracer Group had agreed to pay $150 million in both cash as well as stock from the firm, on top of an earnout consideration of possibly $375 million. This figure, however, would be agreed depending on the fulfillment of certain agreed upon milestones.
The acquisition also includes all the assets of Saber Interactive and the company’s studio locations in Sweden, Belarus, Portugal, and Spain.
Consequently, Saber Interactive co-founders Andry Lones and Matthew Karch would become Embracer Group’s second largest shareholders.
Saber Interactive is well-known for its console games, although it has currently made a name for itself for its switch porting abilities like the recent release of The Witcher 3: Wild Hunt on the Nintendo console.
Lars Wingefors, CEO, Embracer Group, stated that Saber had been on the company’s radar for a very long time owing to its history of top-quality and consistent work.
Wingefors further stated that the ambitious moves by Saber for self-funding projects have been quite impressive, specially with World War Z which sold approximately three million units. While Saber would remain a separate company within Embracer Group, the company is looking forward to collaborating with Saber to elevate its ability to create as well as market leading videogame titles.
Matthew Karch, co-founder and CEO, Saber Interactive, stated that the company being an independent developer during the course of 19 years, has had its share of potential acquirers. With Embracer Group, the company has found the ideal partner and the company is thrilled with this development.
About Embracer Group:
Embracer Group is a Swedish based video game holding company located in Karlstad. The firm is the parent company of business developing and publishing PC and console games for the games market globally. It was previously known as THQ Nordic AB.
Source credit: https://www.pocketgamer.biz/news/72622/embracer-group-acquires-saber-interactive-525-million-usd/
America’s technology giant Apple reportedly announced that it will soon launch "Personal Voice" with a new set of accessibility features. This will allow iPhone and iPad users to make their devices speak in their own voice, allowing u...
According to reliable sources, the upcoming United Nations Climate Change Conference, to be held in November 2023, will be the flagbearer for conducting a meeting of the global health ministers discussing the consequences of climate crisis on public ...
As per the reports, South Korean automaker Kia Corp., along with its parent Hyundai Motor Company, are anticipated to outperform Toyota Motor Corp. in the Q1 earnings for the first time ever. The combined operating profits for Hyundai & Kia wa...
Silicon Valley tech giant, Meta Platforms Inc., formerly known as Facebook, is reportedly cutting another 4,000 jobs this week in another round of mass layoffs. The latest job cuts are a part of the 10,000 layoffs announced in March. The company i...
Stoke Space, a space launch company, has reportedly introduced a new software tool designed to allow hardware companies to monitor the design, assessment, and integration of complex parts. Dubbed Fusion, the tool is set to target one of the most cruc...
© 2023 aeresearch.net. All Rights Reserved.
