Embracer Group, the Swedish games holding company and publisher formerly known as THQ Nordic AB, already contains multitudes after a spree of acquisitions in recent years. And now it apparently has 20 more companies directly in its sights.
In an investor presentation released alongside its full-year financial results today, Embracer revealed that it has “engaged with” over 150 companies about joining Embracer during the last three months alone.
Though it cannot specify what these companies are at this time, the report says that number includes “larger companies that could form additional operating groups.” For context, its current operating groups include Koch Media, THQ Nordic, Saber Interactive, and recent acquisition Gearbox Entertainment.
Furthermore, Embracer says it is in over 20 “late-stage talks” with companies for potential acquisition, though it again does not provide information on what kinds of companies these might be. Aside from the larger operating groups, THQ Nordic also owns several smaller operations, such as QA company Quantic Lab, PR company Sandbox Strategies, and the recent acquisition of Swedish studio Frame Break.
Embracer has had acquisition fever in recent years, picking up over 30 different companies in the last two and a half years. In its report, however, Embracer says that its “determination not to become a ‘corporate machine’ is as strong as ever,” emphasizing its desire to focus on encouraging “founder creativity.” It recently raised almost $900 million for future acquisitions.
The company also reported a number of milestones in its earnings, such as Valheim selling 6.8 million copies from its release in February 2021 to the end of March, with the company expecting it to sell between one and 1.2 million copies more between April and June.
Embracer’s internal studios have 160 more development projects in the works at this time (up from 150 in February), two-thirds of which were either in new franchises, or ones that haven’t had a new release in at least five years such as the new TimeSplitters game the publisher also announced today.
Rebekah Valentine is a news reporter for IGN. You can find her on Twitter @duckvalentine.
Source: IGN Video Games All