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."
Tags: Embracer Group
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