Embracer Group Raising Over $890 Million for Additional Acquisitions
It’s currently evaluating a “growing number of potential near-term acquisition targets.”
The Embracer Group has been acquiring studios for a while now with The Gearbox Entertainment Company and Aspyr Media being the most recent. Nevertheless, it’s looking to continue this strategy by raising more than $890 million via 36 million new Class B shares at SEK 210 ($24.71) per share. As the publisher notes (via GamesIndustry.biz), the amount will be used to “further strengthen the company’s financial position and, of course, continue its ongoing acquisition strategy.”
The company is evaluating a “growing number of potential near-term acquisition targets.” Currently, The Embracer Group has more than 70 premium development projects that will be completed in the next financial year. Many are expected to release in the latter half.
In the meantime, major releases like Biomutant are coming up while early access titles like Valheim and Satisfactory continue to perform well. Aspyr Media is also worth keeping an eye on since it’s working on a high-profile title with a budget of $70 million (rumored to be a reboot of Star Wars: Knights of the Old Republic). As for what the future holds, stay tuned for more details in the coming months.