In a fantastic pairing of two excellent quality, tonally-similar properties, a free crossover event between Massive Monster's Cult of the Lamb and Klei's Don't Starve Together is now live on PlayStation platforms.
Embracer's Broken $2 Billion Verbal Agreement Was Reportedly with Saudi-funded Savvy Games | Push Square
20.08.2023 - 00:15 / pushsquare.com
Embracer Group is currently undergoing major internal reorganisation after apparently overextending, with hard-working employees bearing the cost in the ensuing layoffs and closures. This restructuring has already begun, but a new report has shed some further light on how the situation all came about.
Axios reports, citing «four sources familiar with the deal», that the Swedish holding company's mystery partner, the one that walked away from a deal worth $2 billion after seven months of negotiations, was none other than Savvy Games. A «verbal agreement» was in place, and this reversal caused Embracer's shares to plummet 40% in response.
The Savvy Games Group is chaired by Prince Mohammed bin Salman, the millennial Crown Prince (and Prime Minister) of Saudia Arabia, and the state-funded investment group is itself snapping up developers at an astonishing rate. Mohammed bin Salman (or «MBS», as he prefers) is a controversial figure whose plans for the future include using the vast capital in Saudia Arabia's sovereign wealth fund, or Public Investment Fund (PIF), to invest billions into (amongst other things) acquiring video game companies.
Embracer declined at the time to confirm the identity of its potential partner. Axios adds that its sources were «less certain about why Savvy walked away», and so that piece of the puzzle still eludes us.
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Cost cutting
Sadly predicted
Are you surprised that Savvy Games was the mystery partner after all? Where do you think Embracer goes looking for a dance partner next? Let us know in the comments section below.
Khayl Adam is the second best video game journalist Australia has ever produced, and his ambitions of world domination have (thus far) been curbed by the twin siren songs of strategy games and CRPGs. He has always felt an affinity for the noble dachshund, the best kind of dog.
Embracer group will be done within 5 years
would be a good purchase for someone
PIF has already ruined football. I would really hate to see them ruin the video game industry too.
Gameswashing is next, they’ve already targeted eSports. I reckon they’ll meet more resistance with games, there are a hell of a lot more out and proud devs than there are male footballers. Gamers are a fickle bunch too, if there’s something that’s universally disliked, it’s corporations dictating trends.
Embracer saw Microsoft try to acquire Activision and tried to follow them in acquiring a morally corrupt company
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pushsquare.com
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pushsquare.com
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pushsquare.com
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pushsquare.com
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pushsquare.com
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pushsquare.com
28.08.2023 / 00:26
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pushsquare.com
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pushsquare.com
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pushsquare.com
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