EMBRACER GROUP BOOSTS MCAP ON NASDAQ STOCKHOLM

[ 27 March 2024 ]

Embracer Group has climbed 10.7 per cent on Nasdaq Stockholm following the divestment of Saber Interactive and an ongoing restructuring program. The Swedish video-game and media holding company's share price reached 20.7 SEK during mid-afternoon trading, boosting market capitalisation to 27 742 MSEK.

Embracer Group is in the process of restructuring to strengthen their balance sheet and further reduce capital expenditure. The company owns 132 internal game development studios including Gearbox Software and Crystal Dynamics plus an extensive catalogue of over 900 owned or controlled franchises including Borderlands and Tomb Raider.

Embracer Group and Amazon Games have an agreement under which Crystal Dynamics will develop a new multi-platform Tomb Raider title powered by Unreal Engine 5, with Amazon Games providing full support and publishing the game globally. The deal is valued at SEK 500 million (47M USD).

Embracer Group