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Posted in: Games, Saber Interactive, Video Games | Tagged: Embracer Group
Saber Interactive Is Being Bought Out Of Embracer Group
Saber Interactive looks like it will escape closure and layoffs from Embracer Group, as the studio is being sold off for $500m.
Article Summary
- Saber Interactive to dodge Embracer Group's layoffs via $500m sale.
- Company retains 3,500 employees and option to keep select subsidiaries.
- Saber Interactive continues work on Star Wars: Knights of the Old Republic remake.
- Embracer Group's losses mitigated with potential for more studio sales.
It's not all doom and gloom coming out of the Embracer Group fiasco, as Saber Interactive is being given an escape route in the form of a $500m sale. As we reported back in August, Embracer had a deal fall through with the Saudi Arabia Public Investment Fund. This led to the studio deciding they were going to take drastic measures by shutting down several studios with waves of layoffs on the horizon. Which immediately sent chills throughout the industry as the Swedish group owns major companies such as Gearbox Entertainment, THQ Nordic, Dark Horse Media, Coffee Stain, Asmodee, and more. But it looks like at least one studio will escape that calamity with the majority of the company intact and more, as Saber Interactive will be sold off.
As it was originally reported on by Bloomberg this week, the company will be sold to a group of private investors to the tune of $500m. According to the report, they will be keeping their staff of about 3,500 employees and also comes with the option for Saber to bring with it multiple Embracer subsidiaries as well. This means Saber will be able to possibly retain some of the smaller studios they rely on for the development of their games, making it a smoother transition than finding new studios to work with and developing a relationship that works with their schedules. What's more, the company will still be working on its remake of Star Wars: Knights Of The Old Republic, which had already shifted studios in 2002 after it was moved out of Aspyr Media.
No timetable was given as to when the sale would be final or if the investors plan to form a new parent company to oversee Saber Interactive. And while $500m is a lot of money, it does not soften the blow of the $2b Embracer would have gotten. So this isn't the end of the Embracer issues, but it could lead to more studios being sold rather than closed if all they're looking for is money.
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