Embracer Group Gearbox for sale Atomics

After a failed deal worth $2 billion, the Swedish video game group Embracer Group The studio has been sold, as the developer Saint row, desire, in an effort to restructure the company. Your next goal? Its developer and publisher Borderlands, Gearbox entertainmentMonday was reported by Reuters.

That is known the hugger is considering its options for the US-based developer, whose last release was Little Tina’s Wonderlands y New stories from the Borderlands In 2022. A third party has expressed interest in the study, Reuters reported. A representative of the hugger, declined to comment, noting that the company does not comment on rumors. It is known the hugger A $2 billion deal was in the works Savvy Games Group Funded by the Saudi government, which previously invested $1 billion the huggerbut savvy He eventually backed down, Axios reported. And thus, industrial consolidation the hugger began to collapse, as the company sought to reduce its debt to less than $930 million.

the hugger Only the owner has been gearbox Since 2021, when the mega-publisher bought the company in a deal worth about $1.4 billion. on the same day, the hugger Two more studios have announced acquisitions. The rapid expansion was not surprising for the Swedish publisher known for its aggressive expansion strategy. Owner of rights grave raiderWhen acquired the hugger bought Eidos, Crystal Dynamics y Square Enix Montreal A Square Enix In 2022. same year, the hugger has acquired the right to license lord of the rings y the hobbit Time to buy it Middle-earth initiative, rights holder. This year, the company said they have five games lord of the rings developing

“We know we have to work lord of the rings in a very significant way, and make it one of the biggest game franchises in the world,” said Matthew Karch, COO of the hugger, in June. “And obviously, that’s something we’re going to do. “It’s a much better use of resources than some of the other projects some of our teams are working on.”

Embracer Group Employs about 17,000 people; An unspecified number of layoffs are expected as the restructuring continues in multiple phases through March 2024. Its developer Saint row, desirey Cable campfire Based in Copenhagen, which was only founded in 2022, has been closed by the hugger. Several employees have also been laid off. Gearbox Publications.

Through: polygon

Editor’s note: I don’t know what’s going on with Embracer Group, they bought everything and now they’re watching how they sell things :/ But that’s why I didn’t study finance.