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Embracer acquires eight studios, including Crazy Labs, Ghost Ship Games, DigixArt

Embracer Group has announced the acquisition of eight studios for approximately SEK 2.7 billion ($ 313 million).

Additional remuneration of up to SEK 2 billion (USD 232 million) will be paid if the studios meet agreed milestones over a period of up to eight years.

The studios acquired are:

  • Crazy Labs (Israel)
  • Ghost Ship Games (Denmark)
  • Easy Trigger (Sweden)
  • Force Field (The Netherlands)
  • DigixArt (France)
  • Slipgate Ironworks (Denmark)
  • 3D Realms (Denmark)
  • Grimfrost (Sweden)

The announcement said that these acquisitions would contribute to Embracer̵

7;s sales in the order of 2-3 billion Swedish kroner (232 million dollars to 348 million dollars) in the next financial year (ending 31 March 2023).

Crazy Labs’ acquisition was presented as the “most effective” in terms of the future contribution to Embracer’s sales and operating profit before interest and taxes. The acquisition of the mobile game publisher must be completed by 30 September 2021.

The announcement made it clear that Amsterdam-based VR and AR studio Force Field was acquired by Vertigo Games in particular. Vertigo is owned by Koch Media, which is owned by Embracer. This acquisition doubles Vertigo’s “internal development capacity”, it is stated in the announcement.

DigixArt will also be under the Koch Media banner, while Slipgate Ironworks will be acquired by Saber.

Ghost Ship Games will act as a sister company to the Danish studio Coffee Stain, which makes the latter “an indie operation group with an emphasis on continued organic growth as well as M&A”, it is stated in the announcement. Easy Trigger also comes under the Coffee Stain label as a new in-house studio.

Lars Wingefors, co-founder and CEO of Embracer, commented: “I am pleased to welcome more than 500 great talents across a wide range of well-established companies that further diversify and strengthen the group worldwide from day one.

“Brick by brick, we continue to improve our operating teams and consequently Embracer as a whole. We still have a strong balance sheet with a significant net cash position to further support M&A going forward.

“We continue to have many ongoing discussions with entrepreneurs, creators and companies to join the family, including large or transformative companies that would create new operating groups. I look forward to continuing to grow the Embracer group both organically and in-organically. decades to come. “

Read our full interview with DigixArt founder Yoan Fanise.

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