The CEO of Saber Interactive has confirmed that its remake of Star Wars: Knights of the Old Republic is still in active development.
14.03.2024 - 12:41 / rockpapershotgun.com / Lars Wingefors / Matthew Karch / Interactive / Saber Interactive
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.
In Embracer's press release to investors this morning, they name Beacon Interactive as the buyer in question, which is a new company founded and controlled by Saber Interactive's co-founder Matthew Karch. As a result of the sale, Embracer will also cease all operations in Russia, which they say is "a win-win solution for Embracer and the parts of Saber that now will leave us".
"This is the first transaction of the previously mentioned structured processes and marks a small but important step in our journey to transform Embracer into the future for the benefit of all employees, gamers, and shareholders," said Embracer boss Lars Wingefors. Ah, yes, those all-important shareholders, can't forget them.
Embracer will retain control of Tripwire, Beamdog, Aspyr, Tuxedo Labs, Demiurge, Shiver, Snapshot Games and 34BigThings, as well as 14 games currently in the pipeline. This includes the next AAA game from Metro makers 4A Games, Killing Floor 3 and Teardown, as well as many other unannounced AAA and AA projects in development at the aforementioned studios.
Embracer will also keep "long-term license and publishing rights to all current and future PC/console games in the Metro franchise" under their existing relationship with publishers Plaion (who are also owned by Embracer), and "these rights will not change regardless of whether the option rights are exercised," they said.
According to Bloomberg, the true value of the deal is likely closer to $500 million, once you take into account 4A and Zen's options and all the associated liabilities. Whichever way you look at it, though, it's still short of what Embracer originally paid for them back in 2020, which came to $525 million.
Just last month, Embracer announced a swathe of ongoing restructuring projects to combat their ballooning debt and massive overspending during recent years, resulting in the layoffs of hundreds of game developers across the globe. Here's hoping that Beacon Interactive will provide a touch more stability for all involved.
The CEO of Saber Interactive has confirmed that its remake of Star Wars: Knights of the Old Republic is still in active development.
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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.
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.
Saber Interactive is officially splitting from Embracer Group, bringing a few more studios formerly owned by the Swedish company with it as well.
Embracer Group confirmed it is selling Saber Interactive to Beacon Interactive on Thursday morning, following rumors of a sale last month. Saber Interactive is a massive company that not only develops games like Warhammer 40,000: Space Marine 2 and Expeditions: A Mudrunner Game but also owns several studios.
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.
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.