2024-03-01 18:23:54
Embracer could receive $500 million from the sale of the Saber Interactive group. Cornered by a heavy debt, the holding company has closed around ten studios and canceled around thirty games since the summer of 2023.
It is an atypical group which, during the Covid years, was observed with a mixture of amazement and envy. Financed by record fundraising from, in particular, Swedish institutional funds, the Embracera group acquired in record time nearly a hundred companies in the video game industry, but also the French board game champion Asmodee, the American comic book publisher Dark Horse, or the intellectual property of the Lord of the Rings license. But, after this bulimic phase, Embracer, which was once the European video game player with the highest value on the stock market, is in the midst of a crisis of indigestion.
Since last May, when a major restructuring plan was announced, the group has closed 16 development studios, put an end to the development of around thirty games, and laid off 1,400 employees (8% of the workforce). He would now be on the verge of selling some of his finest assets in order to pay off a debt that exceeds a billion dollars
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