The first trailer for new Star Wars series The Acolyte has arrived, and it looks epic.
02.03.2024 - 11:09 / gadgets.ndtv.com / Lars Wingefors / Kotor Remake / Interactive / Saber Interactive / Of A
Swedish gaming company Embracer Group AB will sell one of its largest subsidiaries, Saber Interactive, to a group of private investors in a deal worth up to $500 million (roughly Rs. 4,142 crore), according to a person familiar with the transaction.
Saber will become a privately owned company with around 3,500 employees, said the person, who asked not to be identified discussing nonpublic information. The company plans to continue developing a remake of Star Wars: The Knights of the Old Republic, the highly anticipated game that was removed from its previous developer Aspyr Media in 2022.
The deal will be one of Embracer's largest moves yet in an ongoing cost-cutting initiative that has seen the company lay off employees and shutter studios around the world over the past year.
Saber and Embracer declined to comment.
Saber, the developer of games such as Snowrunner and World War Z, operates studios in several countries, including the US, Portugal and Russia. In addition to making its own original titles, it does work for other developers.
Embracer purchased Saber for $525 million (roughly Rs. 4,349 crore) in 2020 as part of a spending spree in which Chief Executive Officer Lars Wingefors acquired at least 27 companies. Several of the acquisitions, such as Demiurge Studios, based in Boston, and New World Interactive, based in Denver, were folded into Saber.
Over the past year, as interest rates soared and a $2 billion (roughly Rs. 16,569 crore) partnership with a gaming group backed by Saudi Arabia's sovereign wealth fund fell through, Embracer has been shedding costs. The debt-saddled company has shut down several subsidiaries, canceled projects and is looking to sell more divisions.
The $500 million figure includes an option for Saber to bring along multiple Embracer subsidiaries, the person said.
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The first trailer for new Star Wars series The Acolyte has arrived, and it looks epic.
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.
The Acolyte, the next Star Wars show to hit Disney Plus, has finally set an official release date: the series will premiere on Tuesday, June 4, 2024. This lines up with the previously rumored release date reported by Collider last month.
The troubled Star Wars: Knights of the Old Republic remake is still a long way away, the boss of Embracer has suggested.
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.
Embracer has officially sold Saber Interactive, to the tune of $ 247 million.
Saber Interactive has parted ways with Embracer Group, buying back the rights to its own work as well as much of its network of studios and contractors.
Saber Interactive have parted ways with Embracer Group, buying back the rights to both themselves and numerous other studios in a deal initially valued at $247 million. The deal includes 38 ongoing game development projects plus the rights to 3D Realms, Slipgate Ironworks, New World Interactive, Nimble Giant, Mad Head, Digic, Fractured Byte and PR agency Sandbox Strategies, as well as Metro developers 4A Games and Pinball FX maker Zen Studios via options.
Embracer has sold Saber Interactive for $247 million.
Troubled European publishing giant Embracer Group has sold Saber Interactive as part of a bid to leave Russia.
Embracer Group has entered into an agreement to sell Saber Interactive to Beacon Interactive, a company controlled by Saber Interactive co-founder Matthew Karch, for a purchase price of USD $247 million, the company announced.
Saber Interactive has split from Embracer, with at least 38 ongoing game development projects among the divested assets and over 3,000 staff moving across. However, a number of key studios remain at Embracer, including Tripwire, Aspyr, and Beamdog.