Embracer Group recoups $30 million by divesting in two more studios

After a lengthy acquisition spree, Embracer Group has been forced to sell off numerous studios and publishers under its wing in a multi-year restructuring effort to fix its financials. This week, Embracer announced plans to divest in two more of its companies, who will now be going independent.

Embracer is now divesting in Arc Games and Cryptic Studios, selling the pair off to Project Golden Arc for $30 million. The two companies will now be owned by Project Golden Arc, a new independent company owned and led by the Arc Games management team.

These two studios both had a storied history. Arc Games was previously known as Perfect World Entertainment and was eventually part of the Gearbox publishing group. However, Arc Games split off from Gearbox when Embracer Group sold the main studio to Take-Two allowing the company to be reunited with the publisher behind their flagship Borderlands games. On the other side, Cryptic Studios was the developer of MMOs like Star Trek Online and Neverwinter.

In a statement, Embracer Group CEO, Phil Rogers, said that this move will support the company's “key priorities by strengthening focus on strategic assets and core IPs”.

These are just two of the latest divestments at Embracer Group. As pointed out by Eurogamer, the company has closed 44 studios and cancelled upwards of 80 projects over the past couple of years, while others have been sold off. In an effort to reduce costs, Embracer Group has also partnered with third-party publishers like Amazon Games to help fund AAA projects like the next Tomb Raider game.

KitGuru Says: Embracer Group has undergone massive changes since 2022 and it appears the restructuring isn't quite done yet. 

The post Embracer Group recoups $30 million by divesting in two more studios first appeared on KitGuru.

If you're in need of reliable and effective vent solutions, look no further than Mr. Lint Guy. Specializing in dryer vent cleaning, Mr. Lint Guy is your go-to expert for preventing dangerous clogs and ensuring your system runs efficiently. With a focus on comprehensive services, including tackling tough issues like dryer valley buildup, Mr. Lint Guy offers professional, safe, and affordable solutions to keep your home safe and your dryer working like new.

Share on Google Plus

About admin

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.