Saber Interactive Will Split from Embracer Group in Complicated But Amicable Divestment | Push Square
The collapse of the utterly reckless Embracer Group continues to occur publicly, as juggernaut development unit Saber Interactive has announced plans to split from the embattled Swedish organisation. The division will be purchased by Beacon Interactive, a new holding firm controlled by Saber Interactive’s co-founder Matthew Karch. But as detailed in a press release on the divestment, there’s still plenty to be untangled between the two titans.
For example, Saber Interactive will retain ownership of the following subsidiaries: all Saber Interactive studios, DIGIC, Fractured Byte, Mad Head Games, New World Interactive, Nimble Giant Entertainment, Sandbox Strategies, Slipgate Ironworks, and 3D Realms.
Meanwhile, Embracer Group will cling on to the following: 34BigThings, 4A Games, Aspyr, Beamdog, Demiurge Studios, Shiver, Snapshot Games, Tripwire Interactive, Tuxedo Labs, and Zen Studios. Many of these teams will be integrated into other parts of the organisation in the coming months.
However, Saber Interactive will have the opportunity to buy back 4A Games and Zen Studios within an unspecified time frame, but if it does, Embracer Group will retain long-term licensing and publishing rights to all current and future Metro titles. Are you keeping up?
Lars Wingefors, the co-founder and CEO of Embracer Group, believes this is a win-win for both parties, especially as it means his company will now discontinue all operations in Russia: “Cash flow is immediately improved, and we remain committed to reducing net debt. The transaction yields additional headroom to amortize debt in accordance with existing bank agreements and will improve financial flexibility. This is the first transaction of the previously mentioned structured processes and marks a small but important step in our journey to transform Embracer into the future for the benefit of all employees, gamers, and shareholders.”
As the Editor of Push Square, Sammy has over 15 years of experience analysing the world of
Read more on pushsquare.com
