Embracer Group has announced the $247 million sale of Saber Interactive to Beacon Interactive, a new parent company that is owned by Saber co-founder Matthew Karch.
Embracer Group is Reportedly Selling Off Saber Interactive and Possibly Gearbox Software
01.03.2024 - 02:43 / wccftech.com / Randy Pitchford / Jason Schreier / Nathan Birch / Interactive / Saber Interactive
Embracer Group gobbled up a lot of studios during its 2020-era spending spree, but perhaps the biggest acquisitions were Saber Interactive (World War Z, many, many ports) and Gearbox Software (Borderlands). It’s clear Embracer had big plans for Saber and Gearbox, as both were spun into entire company divisions with other smaller studios reporting to them, but those plans have changed – Embracer’s fortunes took a turn when a $2 billion investment from Saudi Arabia fell through and the company has been desperately cutting costs since. Apparently, this means two of their crown jewels have to go.
According to Bloomberg’s Jason Schreier, Saber Interactive is being sold for $500 million to a group of “private investors” (who these investors are is unclear at the moment). Embracer is taking a loss on the deal as they purchased Saber, which has over 3,500 employees and studios around the world, for $525 million in 2020. According to Schreier many Saber projects, including the Star Wars: Knights of the Old Republic remake, will continue on post-sale.
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Meanwhile, Kotaku has released an article strongly suggesting Gearbox Software is being sold as well. The Kotaku article isn’t quite as definite as the Bloomberg one, but rumors of a Gearbox sale have been floating around for a while and company founder Randy Pitchford reportedly held a town hall meeting this week in which he said a decision about the company’s future had been made with more info set to be revealed in March. While we don’t know exactly what the decision is, it’s unlikely it’s “stick with Embracer” given the state of the company. Embracer paid $1.3 billion for Gearbox back in 2020.
According to Kotaku, Gearbox shelved some more experimental projects once Embracer’s problems began and are now focusing on the next Borderlands and a sequel to Tiny Tina’s Wonderlands. The leadership team responsible for the new Borderlands has reportedly gone through a “reshuffling” and Tiny Tina 2 has undergone a “soft reboot,” but sources claim both games are still progressing well. For his part, Randy Pitchford had the following to say about the sale rumors…
“I’m delighted that what we might be up to is interesting enough to people that you want to make a story about us for your readers. I’m honored and humbled that our company is a topic of rumor, speculation, and discussion. As always, we will be thrilled to share whenever we have projects to announce or news to share as we work hard towards our mission to entertain the world.”
And so, it seems like the Embracer Group story is set to end with a whimper, with most of the studios they bought up
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wccftech.com
14.03.2024 / 20:22
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14.03.2024 / 14:43
Embracer sells a big chunk of Saber Interactive in a deal worth around $500 million
As expected, the Embracer Group has sold much of Saber Interactive, which is known for the Metro series, Gloomhaven and remakes of classic Star Wars titles. The buyer is a group of private investors under the umbrella of Beacon Interactive, which is run by Saber co-founder Matthew Karch.
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14.03.2024 / 13:09
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14.03.2024 / 11:53
KOTOR Remake Dev Saber Interactive Divided as Embracer Sells Off Assets
Embracer Group has sold off some assets of Saber Interactive, the developer of the long-awaited Star Wars: Knights of the Old Republic remake, for $247 million. A couple of years ago, Embracer Group seemed poised to become a major player in the video games space as it acquired multiple key studios like Eidos Montreal, Crystal Dynamics, and Limited Run Games, reaching an incredible 110 game development companies by April 2022 with plans to buy more. One of the companies acquired by Embracer was Saber Interactive in 2020, which became one of the conglomerate’s 12 major divisions thanks to its numerous subsidiaries.
thesixthaxis.com
14.03.2024 / 10:25
Embracer has officially sold off Saber Interactive
Embracer Group has announced the $247 million sale of Saber Interactive to Beacon Interactive, a new parent company that is owned by Saber co-founder Matthew Karch.
eurogamer.net
14.03.2024 / 10:11
Embattled publisher Embracer sells off Saber assets, withdraws from Russia
Troubled video game publisher Embracer has announced the sale of more of its assets — this time, large portions of Saber Interactive, for the price of $247m.
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05.03.2024 / 21:41
Borderlands Dev Set to Join Saber in Leaving Embracer Group | Push Square
Borderlands maker Gearbox Entertainment is on the verge of joining Saber Interactive in being bought out of the sinking ship that is the Embracer Group, a new Kotaku report claims. It's stated that CEO Randy Pitchford shared the news with employees during a town hall meeting earlier this week, with more information coming in March. The site «understands that the decision was made to sell, and a deal is in the late stages of being finalized».
pushsquare.com
05.03.2024 / 21:27
Embracer Group to Sell KOTOR Remake Studio in Deal Worth $500 Million | Push Square
Saber Interactive, one of Embracer Group's largest development houses, will reportedly be sold off in a transaction worth $500 million. The company, which itself comprises more than 20 studios, will be sold to private investors after the deal closes. This will be the latest action from Embracer in its huge restructuring plan. This all comes from a new report from Bloomberg.
gadgets.ndtv.com
02.03.2024 / 11:09
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thesixthaxis.com
02.03.2024 / 10:47
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