As part of its attempted recovery, Reuters reports it is considering selling of Gearbox, of Borderlands and more recently Remnant 2 fame,
Embracer Group, the games industry player that has been snapping up studios and IPs for a while now, is currently a bit…wobbily. After a $2 billion investment deal fell through, it has had to totally change its plans, which will now have to include studios closures and layoffs.
That deal dissolved through unknown reasons, but after glumly announcing the news, Embracer shares dropped 40%. Now, as part of its attempted recovery,it is considering selling of Gearbox, of Borderlands and more recently Remnant 2 fame, which they purchased just two years ago in 2021 for $1.4 billion. I supposed that would be most of the way to filling a $2 billion hole. But the same source was unclear if the deal would actually happen.
Embracer has bought dozens of smaller studios and a few larger ones since 2017. Gearbox was probably its highest profile deal, but famously, Embracer bought Crystal Dynamics and Eidos Montreal off Square Enix in 2022, gaining access to a storied IP, Tomb Raider, where a new game is supposed to be in development, alongside other IPs like Deus Ex and Thief. The deal felt like something of a steal at just $300 million.
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