Gigabyte has released its "Intel Baseline" BIOS option for Intel 14th & 13th Gen CPUs to improve gaming stability but it leads to severe performance degradation.
23.04.2024 - 09:35 / videogameschronicle.com / Lars Wingefors / Chris Scullion / Eidos Montreal
Swedish game and media holding company Embracer Group has announced its plans to split into three separate entities.
The group will separate into three companies – Asmodee, Coffee Stain & Friends and Middle-earth Enterprises & Friends – each of which will be listed as a separate company on Nasdasq Stockholm.
As part of the separation process, Embracer has entered into a new financing agreement, through Asmodee, which is worth €900 million. Embracer says the proceeds from this will “repay existing debt and reduce leverage in the remaining Embracer Group”.
Asmodee will continue to operate as a publisher and distributor of board games, trading cards and digital board games, and will consist of 23 fully owned studios.
Coffee Stain & Friends will focus on PC, console and mobile games, including “community-driven free-to-play games, LiveOps games and indie / AA games”.
It will operate under premium and free-to-play divisions. The premium segment will consist of Coffee Stain, THQ Nordic, Ghost Ship, Tuxedo Labs, Tarsier, Amplifier Game Invest and others.
Finally, Middle-earth Enterprises & Friends will be a “creative powerhouse in AAA game development and publishing for PC / console” and will own the Lord of the Rings and Tomb Raider IPs, along with the likes of Dead Island, Metro and Kingdom Come Deliverance.
Studios joining Middle-earth Enterprises & Friends will include Crystal Dynamics, Dambuster, Eidos Montreal, Flying Wild Hog, Tripwire, Vertigo Games, Warhorse Studios and 4A Games.
In an open later to shareholders, Embracer Group CEO Lars Wingefors said the decision to split the group into three separate entities will help them to work to different strategies.
“There is not one way to do business, but some business models are more similar than others,” he explained. “The same goes for businesspeople. The ambitions may be similar, but the approach differs.
“The similarities between the businesses that will make up Asmodee, Coffee Stain & Friends and Middle-earth Enterprises & Friends are striking, but so are also the differences when it comes to go-to-market strategies and business profiles. All the companies have bright futures ahead, by perfecting what is working for each of them, and by continuing to cooperate when it makes sense.
“There is significant untapped potential within the group, which I am confident the new structure will unleash. This will empower each individual and each team to grow and excel further in their careers as well as provide them with their own leadership and strategic direction.”
After several years of rapid expansion through mergers and acquisitions, the Embracer Group announced last May that a $2 billion deal had collapsed at the last minute, leading it to embark on a restructuring
Gigabyte has released its "Intel Baseline" BIOS option for Intel 14th & 13th Gen CPUs to improve gaming stability but it leads to severe performance degradation.
Following the collapse of a «verbal agreement» reportedly worth $2 billion with the Saudi-funded Savvy Games, Embracer Group entered into a brutal nine-month restructuring programme that resulted in the loss of some 1,400 employees and the cancellation of dozens of unannounced games. CEO Lars Wingefors, whose actions were recently defended by Saber Interactive CEO Matthew Karch («give Lars a break»), in a new interview, says: «As a leader and an owner, sometimes you need to take the blame.»
Elite Dangerous developer Frontier has announced a significant change to the near decade-old space sim: the sale of ships for real money.
The CEO of troubled Swedish games firm Embracer Group, Lars Wingefors, has admitted that he is deserving of criticism for the current state of his company.
Embracer Group CEO Lars Wingefors has suggested he must shoulder much of the blame for a “long list” of mistakes that led to a “painful” restructuring of the company.
Sign up for the GI Daily here to get the biggest news straight to your inbox
Embracer Group has announced its intention to transform into three standalone publicly listed entities: Asmodee Group, Coffee Stain & Friends, and Middle-earth Enterprises & Friends.
Embracer Group, the embattled gaming conglomerate that owns the rights to 'The Lord of the Rings' franchise, has announced that it is splitting into three different companies. The group, which went through significant restructuring this year and sold off major game studios like Saber Interactive and Gearbox to reduce debt, will separate into Asmodee Group, Coffee Stain & Friends, and Middle-earth Enterprises & Friends. The three games and entertainment companies will be standalone, publicly listed entities, Embracer said, with the split “enabling each entity to better focus on their respective core strategies and offer more differentiated and distinct equity stories for existing and new shareholders.”
Famed mass-layoff-manufacturing corporation Embracer Group are dividing into three companies, which will be listed separately on Sweden’s stock exchange. Those companies are: Asmodee Group, which comprises Embracer’s tabletop games biz; Coffee Stain & Friends, an evolution of the existing Coffee Stain publisher, who will pursue "a dual focus on indie and A/AA premium and free-to-play games for PC/console and mobile"; and Middle-earth Enterprises & Friends, “a creative powerhouse in AAA game development and publishing for PC and console, as well as the stewards of The Lord of the Rings and Tomb Raider intellectual properties, among many others”.
Embracer Group has been on a losing streak of late, having recently missed out on a $2 billion investment, laid off thousands of employees and sold one of its key properties, Gearbox, at fire-sale prices. Now, the company has announced plans to split into three separate, publicly listed entities, Bloomberg reported.
This morning, the Embracer Group announced a major transformation of the company, which will be split into three separate publicly listed companies: Asmodee Group, Coffee Stain & Friends, and Middle-earth Enterprises & Friends. The existing Embracer Group listing on Nasdaq Stockholm will be renamed to Middle-earth Enterprises & Friends, and shares of Asmodee Group and Coffee Stain & Friends will be distributed as dividends to shareholders of Embracer Group. The listing and distribution of Asmodee Group shares is expected to occur within 12 months, and Coffee Stain & Friends shares during calendar year 2025.
In the latest step in its restructuring initiative, Embracer Group has announced that it will be splitting into three different companies. Embracer is a Swedish video game and media conglomerate that got its start in 2011 as Nordic Games Licensing, taking over the intellectual properties of defunct publishers like JoWooD and THQ. In the years since, the company has grown into a major presence in the video games space.