Advertainment
Game NewsNews

Embracer Group has completed its restructuring – no new purchases or sales are planned

Embracer Group boss Lars Wingefors confirmed in a conversation with investors that the annual restructuring of the holding’s business has come to an end. The final chord was the sale of Gearbox for $460 million, which was bought by Take-Two Interactive.

Advertisement

 

The head of the Swedish holding said that Embracer Group no longer plans to sell its own assets or buy up others.

 

Now we are approached, I would say, not quite daily, but weekly, by companies that would like to acquire certain assets as part of the group. And I made it clear that they are not for sale because this is a very important part for the group and for the shareholders of the group in the future.

 

Advertisement

It is premature to think about new purchases at this stage. We are now considering the future of the company – this is our focus and priority. It’s important to increase profitability and generate cash flow by simply making better products and games.

 

Since the beginning of the restructuring, Embracer Group has laid off 8% of its employees, closed the Volition and Free Radical Design studios, and also sold Saber Interactive. The Swedish holding has reconsidered its business after the failure of a deal worth $2 billion with the Saudi Savvy Games.

Read also:

New mod for Dragon’s Dogma 2 adds target acquisition system

Advertisement

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button