☰
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/
Fitbit, a Google company, is reportedly facing a series of privacy complaints within the European Union. These complaints revolve around allegations that the company is engaging in unlawful exporting of user data, thereby violating the EU's strin...
Social network X, previously known as Twitter, has reportedly unveiled more modifications that involve the retirement of certain legacy API endpoints. The company implemented adjustments to its API pricing in March, resulting in elevated costs for...
Zapata AI, a software enterprise dedicated to addressing intricate computational challenges, has reportedly unveiled a strategic partnership with IonQ, a leading figure in quantum computing hardware and commercial quantum application advancement. The...
The tech giant Meta has reportedly introduced AudioCraft, a framework capable of generating high-quality audio and music based on short text prompts. The AudioCraft framework aims to simplify the use of generative models for audio by providing a c...
GlaxoSmithKline Pharmaceuticals, the Indian arm of GSK plc based in the UK, reportedly recorded an 11% increase in its first-quarter profit, driven by robust demand for its vaccines. According to the company's statement, the consolidated profi...
© 2023 aeresearch.net. All Rights Reserved.
