Big news in the gaming industry as Embracer Group officially announced the sale of Saber Interactive for a whopping $247 million. This move sees Embracer Group ceasing all operations in Russia while improving its cash flow.
Saber Interactive, known for being home to studios like 3D Realms and Slipgate Ironworks, is being sold to private investors under Beacon Interactive, a company controlled by Saber Interactive co-founder Matthew Karch.
Following the sale, Saber Interactive will retain studios Nimble Giant, 3D Realms, Sandbox Strategies, New World Interactive, Slipgate Ironworks, Mad Head Games, Fractured Byte, and Digic.
On the other hand, Embracer will hold on to Tripwire, Beamdog, Tuxedo Labs, Demiurge, Shiver, Aspyr, Snapshot Games, and 34BigtThings. The deal also includes an option for the buyer to acquire 4A Games and Zen Studios for a fixed price within a certain time frame.
According to a recent Bloomberg report, the total value of the deal could potentially reach $500 million. The terms of the deal were not fully disclosed but it is expected to reflect a significant increase in value compared to the current net book value of USD 81 million.
Embracer CEO Lars Wingefors expressed his satisfaction with the deal, stating, "I am pleased that we have found a win-win solution for Embracer and the parts of Saber that now will leave us. This transaction puts both companies in a stronger position to thrive going forward."
This strategic move comes as Embracer has been undergoing a significant restructuring process, leading to job cuts and project cancellations. The restructuring resulted in the layoff of 1,387 employees, about 8% of its workforce, and the cancellation of 29 unannounced games.
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