Breaking News: Embracer Group Ends Operations in Russia, Sells Saber Interactive for $247 Million
Embracer Group has officially announced the sale of a portion of Saber Interactive’s assets for a staggering $247 million, the same amount it was acquired for in 2020. The deal also includes a potential additional payment of up to $94 million if the buyer resells the assets for a higher price under specific conditions.
The assets of Saber Interactive will now be under the ownership of Beacon Interactive, led by Saber’s co-founder, Matthew Karch. Additionally, the buyer has the option to purchase 4A Games and Zen Studios at a fixed price within a certain timeframe. However, Embracer will retain the rights to the Metro franchise.
Matthew Karch expressed, “This divestiture will allow both parties to thrive in their respective businesses. I will continue to be a significant shareholder of Embracer and look forward to collaborating on current and future projects. This deal will also secure the livelihood of hundreds of professionals, many of whom I have worked with for over two decades.”
Aside from Saber Interactive, 38 game projects in development, as well as various game engines and tools, will be transferred. Embracer Group will also transfer several of Saber Interactive’s internal studios, including 3D Realms, Nimble Giants, New World Interactive, DIGIC, Slipgate, Nimble Giant, Med Head Games, and Fractured Byte.
Embracer Group will retain 14 projects, including two in collaboration with Saber Interactive, a AAA game from 4A Games, Killing Floor 3, unannounced AAA and AA titles, Teardown, and a AAA project based on a major franchise.
Furthermore, Embracer Group has made the decision to cease its operations in Russia. Employees will be transitioned to companies within the country owned by Saber/Beacon Interactive. Embracer will initiate the process of liquidating all of its Russian companies in compliance with Russian law.
Source from www.playground.ru