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Someone better tell Embracer Group (formerly THQ Nordic and Nordic Games Publishing) to slow down as the game publisher has just decided to acquire 12 game studios.
The deals are smaller in nature, but with Microsoft’s $ 7.5 billion acquisition of Bethesda in September, it’s further proof that the gaming industry has gone mad with the deals being made.
The studios acquired include Thinking Ape Entertainment in Canada (82 people), Nimble Giant Entertainment in Argentina (75 people), Mad Head Games in Serbia (130 people), Snapshot Games in Bulgaria (65 people), 34BigThings in Italy (28 people) , Zen Studios in Hungary (65 people), IUGO Mobile Entertainment in Canada (86 people), Purple Lamp Studios in Austria (38 people), Quantic Lab in Romania (390 people), Coffee Stain North (22 people), Flying Wild Hog in Poland (260 people) and Silent Games in England (30 people).
He also bought Sandbox Strategies, a New York-based PR and influencer relations agency. The 11 studios and the public relations agency add at least 1,273 new employees to the growing ranks of Embracer Group, pushing the company to exceed 5,000 employees.
The company had 4,445 employees for the third quarter, including 3,593 internal and external game developers. The total is up 17% from a year ago.
The Karlstad, Sweden-based company said it currently has 135 gaming projects underway, up from 118 in May. Market researcher Newzoo expects gaming industry revenue to reach $ 174.9 billion in 2020, in part thanks to gamers who are relentlessly entertaining themselves during the pandemic. Embracer raised $ 661 million in cash via a stock sale on October 8.
Embracer Group also released its profits today and said sales increased 89% for the third quarter ended Sept. 30 to $ 276.4 million, while profit before taxes and other items was 112, $ 3 million.
Expect to see more offers soon. CEO Lars Wingefors said the company has actively spoken to more than 100 entrepreneurs who “want to be part of the Embracer family”.
Update: 11:17 PM Pacific 11/17/20 with one we missed.
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