Tag: Embracer Group
News Embracer Still Struggling, Despite Cutting Thousands of Jobs
Net sales down 23% year-on-year
It's been a little while since we checked in on Embracer Group, and with the publishing giant having posted its Q2 financial results, now seems as good a time as any. Despite cutting thousands of jobs and attempting to right the ship, Embracer reports significant declines across the board, with the all-important...
News Embracer CEO Says PC, Console Segment the 'Bad Guy', Video Games a 'Volatile' Business
Points to unavoidable "lumpiness"
Embracer Group CEO Lars Wingefors has always had a way with words and graced us with some choice ones during the company's latest investor Q&A. Wingefors said that the "volatile" PC / Console segment of the company was "the bad guy" and that the "lumpiness" of the video game industry makes the future hard to...
News German Dev Piranha Bytes Latest Studio to Close Under Embracer
Unable to find a partner, the studio was in a "difficult situation"
German developer Piranha Bytes is the latest studio to close under Embracer, and it is best known for RPGs like Gothic, ELEX, and Risen. The closure comes less than six months after the studio took to Twitter to seek a publisher for its next title as it worked through a "difficult...
News Embracer Claims Newly Adopted AI Policy Will 'Massively Enhance Game Development'
Send in the machines
Swedish video game and media holding company Embracer Group has adopted a new AI policy, leveraging models to "massively enhance" development. The company hopes this will produce more immersive, engaging games, offering players a "unique, dynamic, and personalised experience". Noted by Game Developer, Embracer announced the new...
News Embracer Group Reportedly Closes Alone in the Dark Developer Pieces Interactive
"Thanks for playing with us"
Pieces Interactive, the developer behind the recent PS5 title Alone in the Dark, is no more. Embracer Group has seemingly shuttered the studio, just a few months after the game's launch back in March of this year. Over on the developer's official website, it now features an image and statement on the homepage confirming...
News Embracer CEO Admits Mistakes Were Made: 'I Could Take a Lot of That Blame Myself'
Wingefors comments on mass layoffs
Following the collapse of a "verbal agreement" reportedly worth $2 billion with the Saudi-funded Savvy Games, Embracer Group entered into a brutal nine-month restructuring programme that resulted in the loss of some 1,400 employees and the cancellation of dozens of unannounced games. CEO Lars Wingefors, whose...
News Embracer Group Is Now Splitting into Three Separate Companies
Embrace the chaos
Embracer Group, the company best known for acquiring an obscene number of studios, publishers, and intellectual property and then laying off thousands when that didn't work out, is set to split into three separate entities. Following its massive restructuring plan, the business is dividing into a trio of companies, each with their...
News Layoffs Hit Gearbox Staff Hours After Embracer Sale
Like clockwork
Less than a day after the news that Take-Two Interactive would acquire Borderlands developer Gearbox Entertainment from the embattled Embracer Group, layoffs have already begun. In the hours since former Gearbox employees were made redundant, they've taken to Twitter, and while the total number of staff impacted remains hard to...
News KOTOR Remake Still Sounds Like It's Far, Far Away from Releasing on PS5
Development began a long time ago
It feels like the Star Wars: Knights of the Old Republic remake has been frozen in carbonite forever. And yet, somehow, the unfortunate project is still quite a while away from being ready for launch. Announced in 2021 with Aspyr at the helm, the project has been in Saber Interactive's hands since at least August...
News Saber Interactive Will Split from Embracer Group in Complicated But Amicable Divestment
Described as a win-win for both
The collapse of the utterly reckless Embracer Group continues to occur publicly, as juggernaut development unit Saber Interactive has announced plans to split from the embattled Swedish organisation. The division will be purchased by Beacon Interactive, a new holding firm controlled by Saber Interactive’s co-founder...
News Borderlands Dev Set to Join Saber in Leaving Embracer Group
Reportedly in the late stages of a sale
Borderlands maker Gearbox Entertainment is on the verge of joining Saber Interactive in being bought out of the sinking ship that is the Embracer Group, a new Kotaku report claims. It's stated that CEO Randy Pitchford shared the news with employees during a town hall meeting earlier this week, with more...
News Embracer Group to Sell KOTOR Remake Studio in Deal Worth $500 Million
Saber Interactive will become privately owned
Saber Interactive, one of Embracer Group's largest development houses, will reportedly be sold off in a transaction worth $500 million. The company, which itself comprises more than 20 studios, will be sold to private investors after the deal closes. This will be the latest action from Embracer in its...
News Embracer Layoffs Total Nearly 1,400 So Far, 29 Unannounced Games Cancelled
Downsizing will continue
Embracer Group, the holdings company that spent years scooping up as many gaming properties and development teams as possible, has had to reduce its unsustainable size, cutting jobs, closing studios, and shelving projects. Last summer, the company announced its restructuring plan, and has now confirmed the figures pertaining...
News Cancelled Deus Ex Game Probably Not a Jensen Story, Says Jensen Actor
Humanity's Fall
Yesterday, we brought you the sorry news that almost 100 employees had been laid off at developer Eidos Montreal, yet more casualties in the ongoing, industry-shaking Embracer Group debacle. Further, an in-development Deus Ex game, which we knew next to nothing about, was cancelled, having apparently
News Following Embracer Shutdown, Volition Veterans Form New Outfit Shapeshifter Games
Every cloud has a silver lining
Volition Games, best known for its (now defunct) Saint's Row series, was shuttered by publisher Embracer Group following the release of a reboot of the franchise in 2022. Embracer's slow-motion implosion is something we've been chronicling for what feels like an age (in reality, it's been six months), so it's nice to...
News Deus Ex Game Reportedly Cancelled, Almost 100 Devs Laid Off
Another project cut by the Embracer Group
A new report from Bloomberg journalist Jason Schreier suggests an unannounced Deus Ex game at Eidos Montreal has now been cancelled by the Embracer Group. The RP
News Former Free Radical Devs Offer Tantalizing Look at Cancelled TimeSplitters Concept Art
This is why we can't have nice things
Developers made redundant during the recent closure of UK-based developer Free Radical have begun to update their portfolios, offering tantalising glimpses of a TimeSplitters game that will now likely never see the light of day, from concept art and texture packs to character models and weapon designs. Former...
News Free Radical Closure Confirmed as Embracer Shuts Studio Ahead of Christmas
"Sadly, we join an ever-growing list of casualties"
Embracer Group has made good on its promise, deciding the fate of UK-based TimeSplitters developer Free Radical Design after a consultation process that concluded on 11th December. Or at least we have to assume so, the embattled company hasn't made an announcement or anything; Free Radical's...
News Embracer CEO Confirms TimeSplitters Dev Could Close Before Christmas
Consultation continues
Following reports in November that Free Radical Design, the UK-based developer tasked with resurrecting TimeSplitters, would be next on the Embracer chopping block, CEO Lars Wingford has acknowledged the studio's precarious position. While the company has said nothing publicly yet, VGC reports that employees recei
News Embracer Exec Says Headcount Reduction Process Has Been 'Agonizing', but 'Necessary'
"It's something that Embracer really feels for"
Embattled publisher Embracer Group announced back in June that layoffs, cancellations and closures would be required in order to continue operations after apparently vastly overextending. Estimated, then, to employ 17,000 staff across dozens of studios, with ambitions to release some 234 games before...
News 900 People Laid Off from Embracer Group During Its Second Quarter of 2023
Company confirms impact
As has already been reported, Embracer Group is among the many businesses in the industry cutting back its workforce in 2023. However, we now have a figure; during its second quarter, ending with September, the holding company has let go of 900 employees. To put that in perspective, this number represents just five per cent...
News Embracer Collapse Continues, with TimeSplitters Dev Allegedly Next on the Chopping Block
Free Radical allegedly under threat
Embracer’s well-documented collapse looks poised to claim another casualty, with VGC reporting the re-established TimeSplitters dev Free Radical could be next on the chopping block. As you may already know, the Swedish firm went on a massive acquisition spree for several years, but a collapsed contract has...
News Embracer COO Announces Departure Following 'Rough' Year for Company
"Embracer will come out stronger and with a long, bright future ahead of them"
Embattled IP hoarder Embracer Group has announced the departure of Chief Operations Officer Egil Strunke, who leaves the company amidst a larger restructuring comprised of layoffs, cancellations, and studio closures. In a statement, Strunke confirmed the news of his...
News Borderlands Studio Gearbox May Be Sold by Embracer Group, It's Claimed
After a tough few months for the company
Embracer Group, the company that has gobbled up developers and IPs over the past few years, is reportedly looking at selling off Borderlands developer Gearbox Entertainment. The Swedish firm's fortunes have taken a turn for the worse over the past few months, so despite only purchasing the publisher just over...
News Saints Row May Be Free on PS Plus Soon, But Its Developer Is No More
Volition shuttered with immediate effect
Well, this is a terrible shame. The recent reboot of Saints Row will be free on PS Plus this month, and we’d hoped it’d give embattled developer Volition a shot in the arm. Unfortunately, having completed its DLC and post-release assignments for the title, it’s now been shut down. You may recall its...
News Embracer's Broken $2 Billion Verbal Agreement Was Reportedly with Saudi-funded Savvy Games
No reasons, only more questions
Embracer Group is currently undergoing major internal reorganisation after apparently overextending, with hard-working employees bearing the cost in the ensuing layoffs and closures. This restructuring has already begun, but a new report has shed some further light on how the situation all came about.
News Embracer Starts Shutting Studios as the Downsides of Consolidation Surface
Sadly predicted
The Embracer Group is a Swedish video game media holding that, for years now, has been quietly acquiring smaller studios, and a frankly ludicrous number of them at that. With 131 internal video game studios and 15,000 staff worldwide, it seemed too unwieldy to manage, and sure enough, a mass round of layoffs was announced, with the...
News Lord of the Rings Needs to Be the Biggest Game Franchise in the World, Says Embracer
Embattled publisher wants Tolkien at the top
Embracer, the embattled publisher which announced a significant restructuring earlier today, has been talking a little bit about how it intends to turn its business around. You may recall the European titan had been expanding aggressively, but today it confirmed that it’ll face significant layoffs,...
News Layoffs, Closures, and Cancellations as Embracer Group Undergoes Huge Restructure
Cost cutting
Embracer Group, the enormous holding company notorious for buying up studios and IP, is preparing for a significant restructure. In order to "realize untapped potential in Embracer Group and better optimize the use of our resources", the conglomerate is set to make some sweeping changes which, sadly, include layoffs, studio closures,...
News Saints Row Sales Flop Forces Parent Company to Change Its Policy on New Games
"Each project has to earn its right to exist"
Embracer Group, the company that ultimately funded last year's Saints Row reboot, has had to re-evaluate its approach to greenlighting new games. In the firm's latest financial report, it essentially admits that the new Saints Row didn't meet sales expectations, while assuring investors that it's...
Rumour Amazon Buys Tomb Raider for Twice the Price of Embracer's Square Enix Buyout
Property to become big multi-media franchise
Is Tomb Raider now owned by Amazon? Well, nobody really knows for sure, but one website has run a report saying so. According to The Lord of the Rings fansite, Fellowship of Fans, Embracer Group is in the process of selling the iconic IP to the juggernaut company. As part of a wider report about the...
News Saints Row Team Will Be Folded into Gearbox
As game reception disappoints
Saints Row studio Volition will now be led by Gearbox Software, the Embracer Group has announced. This is because the game "did not meet the full expectations and left the fanbase partially polarized". As the studio works to improve the open world title — something it has already begun with
News Embracer Group Has 234 Games Planned to Launch by March 2026
25 of which are AAA
Embracer Group is a huge holding company that owns countless publishing brands, studios, and video game IPs. Over the last few years, its rapid expansion has been fascinating to see. To name just a few, it has splashed cash on the likes of Perfect World Entertainment, 4A Games, Flying Wi
News Embracer Group Already Closing Newly Acquired Montreal Studio
Just weeks after renaming to Onoma
The Embracer Group is closing the Montreal-based developer it recently acquired from Square Enix just weeks after the studio rebranded as Onoma. Best known for Hitman GO, this is the team focused on mobile experiences rather than big-budget titles for consoles, which the company says it wants to fully focus on. As...
News Embracer Completes Crystal Dynamics, Eidos Montreal Acquisition
Another win for consolidation
While it looks like Amazon will not be buying EA after all, Embracer Group has completed its acquisition of Crystal Dynamics, Eidos Montreal, and various other assets. According to a
News This Is Every Game Dev the Embracer Group Owns
Extend, embrace, extinguish
Swedish juggernaut corp Embracer Group woke up feeling dangerous – and purchased another enormous chunk of the video game industry as a result. The holding company now has approximately 120 game developers under its umbrella, spread across a vast array of divisions and subsidiaries all over the globe. We thought, given...
News Embracer Group Buys The Lord of the Rings IP, Maneater Dev, Limited Run, and More
Plus another mystery developer
The ever-growing Embracer Group has announced another wave of acquisitions that sees it take ownership of The Lord of the Rings and The Hobbit IPs via Middle-earth Enterprises. It has also bought Maneater studio Tripwire Interactive, Teardown team Tuxedo Labs, the physical game publisher Limited Run Games, and the...
News Saudia Arabia's Public Investment Fund Purchases a $1 Billion Stake in Embracer Group
As you do
Saudi Arabia's Public Investment Fund (or PIF) has made a series of high-profile investments in recent times, and they just made another, dropping a ludicrous $1.05 billion to purchase an 8.1% stake in the Swedish video game and media holding company, Embracer Group. This stake makes the PIF's Savvy Gaming Group the second-largest...
News Tomb Raider, Deus Ex Remakes and Remasters Could Come to PS5, PS4
The Legacy of Kain, too
The rapidly expanding holding company Embracer Group has snapped up franchises like Tomb Raider and Deus Ex for a song from Square Enix, and it’s already pondering ways it can put the series to work. Speaking as part of a financial report, the firm revealed that it sees “great potential” in its $300 million
News Big AAA Games Coming from Bought Square Enix Studios, Says Embracer
Give me Deus Ex
Crystal Dynamics, Eidos Montreal, and Square Enix Montreal will continue to make "very sizable AAA experiences" after the Embracer Group bought the three developers and a long list of gaming IPs from Square Enix for $300 million. A new Tomb Raider title is already confirmed to be in production, and other large games based on "beloved...
News Embracer Group to Buy Multiple Square Enix Studios and IPs in Huge Acquisition
Tomb Raider, Deus Ex, Legacy of Kain, much more
Embracer Group, the enormous company that's always scooping up studios and franchises, is set to close its latest big deal, and it's a doozy. The conglomerate is about to acquire several developers and IPs from Square Enix. The acquisition will include studios Crystal Dynamics, Eidos-Montréal, and...
News The Embracer Group Just Bought a Few More Game Studios
And comic book company Dark Horse
The Embracer Group is back yet again doing what it does best: acquiring a load of studios all at once. The new wave of acquisitions sees MMO developer Perfect World Entertainment bought up by the company as well as DIGIC, Spotfilm Networx, and Shiver Entertainment. Embracer Group has also added Dark Horse to its...
News Embracer Group Acquired 37 Studios This Year, and Wants to Match That in 2022
THQ Nordic, Koch Media parent company is still hungry
Embracer Group isn't a name many people are familiar with, but you will have heard of the publishers and developers that fall under its vast umbrella. THQ Nordic, Koch Media, and Deep Silver are all part of it, and that's just the tip of the iceberg. This is the company that pops up every couple...
News Gearbox Acquisition Will Not Impact 2K's Role As Borderlands Publisher
After Embracer Group scoops studio and publishing arm
Update: 2K Games has commented on Gearbox's acquisition by the Embracer Group today, explaining that it will not affect its role as the publisher of the Borderlands games or "any other projects" the pair may be working on. A spokesperson said: "As the proud publisher of the Borderlands...
News Embracer Group Just Casually Bought Another 13 Developers
Flying Wild Hog the most high profile
Whilst we're sat at the dining table eating our breakfast in the morning, we like to imagine the CEO of Embracer Group was up and ready to go three hours before us preparing plans to buy yet another developer. And they do this every single day of the week. Yes, the company that THQ Nordic and Koch Media both...
