Tomb Raider and transmedia: What next for Embracer Group?

gamesindustry.biz:

James Batchelor

Editor-in-Chief

Thursday 23rd June 2022

Embracer

As it has so frequently over the last five years, Embracer Group recently grabbed headlines with a surprise acquisition.

In this case, it was the purchase of Crystal Dynamics, Eidos Montreal and Square Enix Montreal -- along with IP such as Tomb Raider, Deus Ex, Thief and Legacy of Kain, plus over 50 back catalogue titles -- for a truly bargainous $300 million.

Embracer has acquired at least four companies every year since 2017. Often it's been a lot more, with CEO Lars Wingefors saying in November that the group had brought 37 companies into the fold within 12 months -- and expected to acquire a similar amount by November this year.

So when, if ever, will Embracer's M&A spree end?

"For me, it's not about reaching a certain level of revenue or profit, but about building an ecosystem that makes sense for our companies, and empowers them to have more opportunities and to fuel their ambitions further," Wingefors told GamesIndustry.biz. "That's why we've been stepping outside the core of PC/console gaming and development, and creating an ecosystem where people and entrepreneurs find it very interesting to become part of. We've taken some notable steps in the past decade, since we started with seven people back in Vienna.

Lars Wingefors, Embracer Group

"How much more do we need to grow in order to believe that that ecosystem or platform, however you define it, is strong enough? I don't have the answer to that question. I think we've taken some notable steps, but we are on a journey."

Wingefors emphasised that, unlike some of the other industry giants aggressively scooping up key players in the space, Embracer Group operates differently. While Zynga, for example, is