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Embracer Group Sells Space Marine Maker Saber Interactive and Most of Its Studios for $247 Million, But Price Could Go Up Significantly

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Embracer Group Sells Space Marine Maker Saber Interactive and Most of Its Studios for $247 Million, But Price Could Go Up Significantly
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Most studios operating under the Saber brand are included in the sale, but some big names remain. Embracer Group has announced the sale of Saber Interactive to a company called Beacon Interactive, founded by Saber co-founder Matthew Karch, in a deal worth $247 million, although options in the deal mean the price could be much higher. As part of the deal, Embracer will cease all activities in Russia, which the company has described in a presentation as “reducing geopolitical risk.”

“I am pleased that we have found a win-win solution for Embracer and the parts of Saber that will now be leaving us,” said Embracer CEO Lars Wingefors in the announcement. “This transaction strengthens both companies and enables them to be successful in the future. Embracer can now, in accordance with a previous board decision, cease all activities in Russia, while many developer jobs will be protected under new independent ownership.

“At the same time, we retain important companies, valuable IPs, and future release rights. Cash flow improves immediately, and we remain committed to reducing net debt.” As Wingefors mentioned, most studios that were part of Embracer’s Saber Interactive division but not all, will go to Beacon. Studios leaving Embracer as part of the sale include:

  • All Saber-branded studios
  • DIGIC
  • Fractured Bye
  • Mad Head Games
  • New World Interactive
  • Nimble Giant
  • Saber Interactive Inc
  • Sandbox Strategies
  • Slipgate
  • 3D Realms

Embracer retains some big names that were previously operating under the Saber division:

  • 34 Big Things
  • 4A Games
  • Aspyr
  • Beamdog
  • Demiurge
  • Shiver
  • Snapshot
  • Tripwire Interactive
  • Tuxedo Labs
  • Zen Studios

However, the deal also includes an option for Beacon to acquire 4A Games and Zen Studios “within a certain timeframe,” and according to Bloomberg reporter Jason Schreier, Karch has already said Saber will also acquire them. If so, the purchase price is allegedly set to rise to around $500 million, although the terms of the option have not been disclosed.

Embracer said 38 projects currently in development will accompany the sale, while 14 – including two “joint projects” with Beacon – will be retained. These include “the next AAA game from 4A Games,” presumably the next Metro, Killing Floor 3, ongoing development of Teardown, and “the entire upcoming pipeline and back catalog of Zen Studios, Aspyr, and Tripwire.”

The latter might seem like a missed opportunity for Knights of the Old Republic fans. Aspyr was working on the Schrödinger’s Cat-like KOTOR remake but was pulled from the project mid-2022. It’s allegedly not dead, though what really happened is anyone’s guess, but responsibility for the remake purportedly transferred with the Saber sale, which might – dare we dream – mean it will actually happen someday.

(Aspyr’s recent performance with Star Wars Battlefront Classic Collection might also bring some quiet relief that someone else is handling the KOTOR remake.)
Tim Willits, Chief Creative Officer of Saber Interactive, confirmed that Saber’s currently largest project, Space Marine 2, comes with the deal.

Karch said the deal “leaves both parties in much better positions to grow our respective businesses,” and more importantly, it “secures the livelihoods of hundreds of professionals.” Sales and acquisitions don’t necessarily guarantee job security (especially in this business), but for now, this is a far better outcome than the fate of some Embracer studios, including Free Radical Design and Volition, which were shuttered entirely following the collapse of a $2 billion investment deal that sent Embracer into a downward spiral.

Wingefors described the Saber sale as “the first transaction” of his previously announced restructuring plan, suggesting that more could be on the way – possibly including the completion of a Gearbox sale rumored to be in the “late stages” of completion. He also seemed to choose his words a bit more carefully, saying the deal “marks a small but significant step in our journey to transform Embracer into the future for the benefit of all employees, players, and shareholders.” This stands in sharp contrast to previous statements by Embracer executives, including Wingefors, that focused solely on shareholder welfare – and didn’t sit well with anyone else. Perhaps Wingefors is finally learning that it’s not just investors paying attention to what he says.

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