Embracer is splitting into three companies
Swedish games firm Embracer Group is splitting up into three different companies.
In a note to investors, the firm said that it will divided into Asmodee Group, Coffee Strain and Friends and Middle-Earth Enterprises and Friends. The first two will be receiving new listings on the Nasdaq Stockholm market, while the latter is remaining as the existing Embracer Group listing, which will be renamed at a later date.
Asmodee will focus on tabletop games, while Coffee Stain and Friends is centered on indie and mid-tier projects. Finally, Middle-earth Enterprises and Friends is triple-A focused, including the Tomb Raider franchise, which is a bit weird. Book and comic publisher Dark Horse is also part of that last division, which is also strange.
“This move has been made with the intention to unleash the full potential of each team and provide them with their own leadership and strategic direction," Embracer CEO Lars Wingefors (pictured) wrote.
"This is the start of a new chapter, a chapter that I intend to remain part of as an active, committed, and supportive shareholder of all three new entities, with an evergreen horizon. This move towards three independent companies reinforces Embracer’s vision of backing entrepreneurs and creators with a long-term mindset, allowing them to continue to deliver unforgettable experiences for gamers and fans across the globe."
The chair of Embracer's board, Kicki Wallje-Lund, added: “The Board of Directors, together with executive management, propose to transform Embracer Group into three separate, listed companies. This transformation is an important step in unlocking shareholder value. With this new structure, the three entities will be able to focus on executing their core strategies and leveraging their own strengths, providing more differentiated and distinct equity stories to both existing and new shareholders. After careful evaluation of various strategic alternatives, we strongly believe that this decision will benefit all
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