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Embracer Group Shuffles Gearbox Publishing Into Arc Games Amid Company Restructuring 5t4t5z

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The restructuring at Embracer Group continues as the video game holding company shuffles Gearbox Publishing into Arc Games after selling off Gearbox Entertainment to Take-Two Interactive in a $420 million stock deal late last month. The deal saw Take-Two acquire full ownership of Gearbox Software, Gearbox Quebec, and Gearbox Montreal and its respective games which are now under the supervision [...]

Embracer Group Sells Gearbox Entertainment For Parts To Take-Two Interactive 16hp

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After Gearbox Entertainment CEO Randy Pitchford all but denied rumors that Embracer Group was selling them off earlier this month, a press release now confirms that the Swedish video game holding company did just that. Most of Gearbox and its exclusive IPs have now been acquired by Take-Two Interactive in a $460 million stock deal. Gearbox Entertainment is now part [...]

Beacon Interactive Acquires Saber Interactive From Embracer Group 2i26l

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Embracer Group continues to feel the sting of its failed $2 billion partnership deal as it sells Saber Interactive and several of its subsidiaries to Beacon Interactive for $247 million. That includes 3D Realms, DIGIC, Fractured Byte, New World Interactive, Mad Head Games, Slipgate Ironworks, Nimble Giant Entertainment, and Sandbox Strategies. Embracer, on the other hand, will retain control of [...]

Sources Reveal Embracer Group Is Selling Gearbox Publishing Amid Ongoing Restructuring 2z71i

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Embracer Group is reportedly selling off Gearbox Publishing in the aftermath of its tanked multi-billion-dollar partnership deal last year. Rumors that the publishing group was for sale began last fall and have recently been corroborated by anonymous sources. Gearbox co-founder and CEO Randy Pitchford apparently gave his employees three options: stay with Embracer Group, sell to another company, or buy [...]

Video Game And Tech Industry Layoffs Continue As We Move Further Into 2024 6j2i73

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The job toll in the video game and tech industries continues to rise as January comes to a close. Three more video game studios have been hit with layoffs this week, including People Can Fly, Black Forest Games, and Reikon Games, affecting approximately 140 employees across all three studios. At least 6,000 employees have now lost their jobs across over [...]

Embracer Group Reportedly Lays Off Half Of 3D Realms And Irongate Slipworks Staff 31276k

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Embracer Group continues to downsize its studios as Slipgate Ironworks and its subsidiary 3D Realms reportedly gets hit with a massive round of layoffs. The news comes by way of a tweet from 3D Realms founder and current Apogee Entertainment studio head Scot Miller, who revealed that at least half of the studios’ employees were laid off, including core developers. [...]

Downsizing Continues At Embracer As Insurgency: Sandstorm Studio Lays Off Employees 2qv32

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Another Embracer Group studio has been caught in the backblast of its failed $2 billion deal as Saber Interactive announces layoffs and restructuring at its subsidiary, New World Interactive. The studio is best known as the developer of multiplayer shooter Insurgency: Sandstorm and was initially rumored to be shutting down. Saber Interactive has denied the rumors alongside the layoff announcement. [...]

Embracer Group’s Phil Rogers Says Layoffs Were An ‘Agonizing Process’ 4j5c2z

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The past year has been a particularly challenging time for the video games industry with several thousand employees having been laid off across dozens of big-name companies. One company that was hit pretty hard was Swedish video game holding company Embracer Group. After a multi-year studio shopping spree that saw it acquire THQ Nordic, Perfect World Entertainment, Cryptic Studios, and [...]

Embracer Group Reports 13% Increase In Net Sales As Restructuring Continues 60q3o

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Embracer Group has slightly recovered from its failed $2 billion deal which nearly resulted in the collapse of the Swedish video game holding company. According to its Q2 2023 financial report, net sales are up by 13% year-over-year, amounting to SEK 10.8 billion (roughly $1 billion) from June to September 2023. Its net debt has also been reduced by 31% [...]

Embracer Group Subsidiaries Shut Down Or Hit By Layoffs These Past Few Weeks c2q33

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Several studios have been caught in the aftermath of Embracer Group’s botched $2 million deal, including Crystal Dynamics, Beamdog, Gearbox Publishing, Zen Studios, and more recently, Digic Animation. The aforementioned studios have all been hit with layoffs of varying degrees in the past two weeks as part of the company’s restructuring and cost-cutting efforts. According to GamesIndustry.biz, 10 employees were [...]

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