Saber Interactive Sold for $247m

Saber Interactive Sold for $247m

Business

15 March 2024 08:06

Embracer Group AB has agreed to sell certain assets from Saber Interactive for a total purchase price of $247m. Through this sale Embracer exited from all operations in Russia. The buyer, Beacon Interactive, is controlled by Matthew Karch, a co-founder of Saber Interactive.

Lars Wingefors, co-founder and Group CEO of Embracer stated “I am pleased that we have found a win-win solution for Embracer and the parts of Saber that now will leave us. This transaction puts both companies in a stronger position to thrive going forward. Embracer is now able to discontinue all operations in Russia, according to a previous board decision, while safeguarding many developer jobs under new independent ownership. At the same time, we keep key companies, valuable IPs and future publishing rights. Cash flow is immediately improved, and we remain committed to reducing net debt."

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Saber Interactive Sold for $247m

Business

15 March 2024 08:06

Tags: Embracer Group

Embracer Group AB has agreed to sell certain assets from Saber Interactive for a total purchase price of $247m. Through this sale Embracer exited from all operations in Russia. The buyer, Beacon Interactive, is controlled by Matthew Karch, a co-founder of Saber Interactive.

Lars Wingefors, co-founder and Group CEO of Embracer stated “I am pleased that we have found a win-win solution for Embracer and the parts of Saber that now will leave us. This transaction puts both companies in a stronger position to thrive going forward. Embracer is now able to discontinue all operations in Russia, according to a previous board decision, while safeguarding many developer jobs under new independent ownership. At the same time, we keep key companies, valuable IPs and future publishing rights. Cash flow is immediately improved, and we remain committed to reducing net debt."

Share:

Sources:

Report mistake   

Submit news   

Related news

View All

Embracer Group Pays Back $300m

Embracer Group announced that they paid $300m of debt. The group informed lenders about the repayment, marking progress towards...

Uncategorized

Jun 21, 2024

Embracer Group to Divide into 3 Companies

Swedish gaming giant Embracer Group, revealed on Monday its intention to divide into three separate entities: Asmodee Group, Coffee...

Business

Apr 23, 2024

Take-Two Acquires Gearbox

Take-Two Interactive has announced its acquisition of Gearbox, from Embracer Group for a sum of $460m. The acquisition...

Business

Mar 28, 2024

505 Games Shuts Down Studios Across Europe

505 Games, as part of its ongoing restructuring efforts, has revealed intentions to close down its offices located in...

Uncategorized

Mar 01, 2024

Embracer Group to Reduce Debt

Embracer Group has announced the extension of its credit and loan debts until 2025. According to reports, the primary...

Business

Dec 19, 2023