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Embracer Group acquired eight companies including Galactic Deep Rock developer Ghost Ship Games and Ionic fury creator 3D Realms for a combined amount of SEK 2.7 billion ($ 313 million).
The deal will see Embracer, which already owns THQ Nordic, Koch Media and Gearbox Software, hand over an additional SEK 2 billion ($ 232 million) if certain performance milestones are met over the next eight years.
As already mentioned, the acquisition board includes deals for studios like Ghost Ship Games and 3D Realms. It also features notable moves for Danish studio Slipgate Ironworks, which worked on the Ghostrunner port, and Route96 and 11-11 Recounted memories Digixart developer.
VR Force Field studio, best known for projects like Landfall and Coaster Combat, was also acquired by Embracer alongside Hunt down Easy Trigger developer.
Embracer ended his latest spending spree by closing deals for Israel-based mobile phone company CrazyLabs, which is the developer-publisher of the occasional title Super stylist, and Grimfrost, specialist in e-commerce and Viking merchandise.
Describing the strategic rationale behind the agreements, Embracer said the Eight are designed to enhance its capabilities in mobile publishing and development, independent development, VR development, and PC and console development – with particular emphasis on narrative titles and retro shooters.
Company CEO and Co-Founder Lars Wingefors said Embracer still had a “strong balance sheet with a significant net cash position to support further ongoing mergers and acquisitions,” and explained discussions with other companies. – including “transforming” companies that would create new operating groups – are underway.
Earlier this year, Embracer made a quadruple acquisition to the tune of $ 8.5 million and launched a new publishing arm called Prime Matter through its subsidiary Koch Media.
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