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SAVVY GAMING GROUP INVESTS IN EMBRACER GROUP
[ 8 June 2022 ]
Saudi Arabia's Public Investment Fund will acquire 8.1 percent of the shares in Embracer Group, and 5.4 percent of the votes in the Company, the Swedish gaming giant announced today. Savvy Gaming Group's investment will allow Embracer Group to "continue executing our strategy proactively from a position of strength across the global gaming industry."
"Our relationship with Savvy Gaming Group will enable us to set up a regional hub in Saudi Arabia, from which we will be able to make investments across the MENA region, either organically, via partnerships, joint ventures, or via acquisitions of companies led by strong entrepreneurs." says Lars Wingefors, Founder and Group CEO of Embracer Group.
Embracer Group has agreed to acquire Eidos, Crystal Dynamics and Square Enix Montreal and a catalogue of IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 back-catalogue games from Square Enix Holdings Ltd. Embracer Group, owners of Borderlands creator Gearbox Software, previously acquired Dark Horse Media, publishers of the Tomb Raider comic book series starring Lara Croft.
