Embracer Group Leaves Russia and Sells Selected Assets to Saber Interactive. Metro Devs May Be Next
Embracer Group is getting rid of selected assets of Saber Interactive, including 38 games. The buyer also has the right to purchase Zen studios and 4A Interactive at a fixed price.
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Recent rumors have been confirmed, at least to some extent. Embracer Group concluded an agreement for the sale of the Saber Interactive studio for the amount of $247 million. The buyer is Beacon Interactive, whose director is Matthew Karch -- co-founder of Saber Interactive. Hence the mentions of employees transitioning to a "new, independent owner."
Therefore, the group has completely ceased its operations in Russia, while also immediately enhancing the flow of financial resources and reducing investment expenses, net debt, and future obligations. It was also mentioned that such a decision allowed to keep the job for "hundreds of specialists." Thanks to this, Embracer Group didn't contribute to the wave of mass layoffs.
The transaction means that Embracer Group will lose 38 projects worth SEK 2.4 billion to Beacon Interactive, as well as development tools and technologies. The company has 14 remaining projects, including two developed in collaboration with Beacon Interactive and, among others, Killing Floor 3.
In addition to the "core" Saber Interactive team, Beacon will acquire studios such as Mad Head Games (Insurgency).
The overhaul of the Embracer Group will most likely not end there. The official statement regarding the transaction stated that the "buyer" (Beacon Interactive) will have a limited time to purchase two more "assets" of the company at an agreed price: 4A interactive (developers of the Castlestorm). The publishing rights and the "long-term license" for the Metro series will remain under the control of Embracer Group, specifically with its subsidiary company Plaion.
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