Savvy Games Group Cancels Embracer Deal

Savvy Games Group Cancels Embracer Deal

Drama Business

15 August 2023 16:08

According to recent reports by Axios, Savvy Games Group canceled the strategic partnership deal with Embracer Group. The $2 billion deal ended due to external factors. Embracer Group CEO stated "They were already agreed and everything was done, ready to go. And the feedback, there is a strong belief in the deal on both sides. So, the decision is external factors from this transaction." It's been a rough night getting that decision when you have everything prepared presentation, communication and obviously, you have been working day and night, almost sometimes for half a year to achieve something."

Following the announcement Embracer Group went through a restructuring program to cut costs. The company recently shut down Campfire Cabal.

Tags: Savvy Games Group Embracer

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Savvy Games Group Cancels Embracer Deal

Drama Business

15 August 2023 16:08

Tags: Savvy Games Group Embracer

According to recent reports by Axios, Savvy Games Group canceled the strategic partnership deal with Embracer Group. The $2 billion deal ended due to external factors. Embracer Group CEO stated "They were already agreed and everything was done, ready to go. And the feedback, there is a strong belief in the deal on both sides. So, the decision is external factors from this transaction." It's been a rough night getting that decision when you have everything prepared presentation, communication and obviously, you have been working day and night, almost sometimes for half a year to achieve something."

Following the announcement Embracer Group went through a restructuring program to cut costs. The company recently shut down Campfire Cabal.

Share:

Sources:

     Report mistake  
     

Submit news   

Related news

View All

Saudi Arabia's Public Investment Fund to Move Stocks to Savvy Games Group

Saudi Arabia’s Public Investment Fund (PIF) plans to transfer its games-related assets to its subsidiary, Savvy Games Group,...

Business

Sep 07, 2024

Savvy Games Group Partners with Niantic

Savvy Games Group, has signed a Memorandum of Understanding (MoU) with Niantic Inc. The partnership targets Niantic’s...

Business

Aug 28, 2024

Savvy Games Group Reveals Xsolla Partnership

Xsolla, has signed a Memorandum of Understanding (MoU) with Savvy Games Group.This partnership aims to support...

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Aug 27, 2024

Embracer Group Reveals Restructuring Program

Gaming giant Embracer Group will go through a restructuring program. The company stated "the closing of studios and termination of...

Companies

Jun 13, 2023

Savvy Games Group Partners with Al-Hilal SC

Savvy Games Group announced a new partnership with Al-Hilal SC. Savvy will help the football team to improve its youth...

Companies

Jun 12, 2023