List of mergers and acquisitions by Embracer Group explained

Embracer Group is a Swedish video game holding company controlled by Lars Wingefors. In 2016, the company was spun out of Nordic Games Group and in 2019 it was renamed Embracer Group.

As of 2024 they own more than 108 internal studios in over 45 countries in Europe and the Americas. Its subsidiaries are organized under ten groups: Amplifier Game Invest, Asmodee, CDE Entertainment, Coffee Stain Holding, Dark Horse Media, DECA Games, Easybrain, Embracer Freemode, Plaion and THQ Nordic. Each group has its own operations, subsidiaries and development studios.

Acquisitions

Date	Company	Country	Parent company	Value
	Black Forest Games		THQ Nordic	€1,360,000	^[1] ^[2]
	Pieces Interactive	Sweden		$350,000	^[3]
	Experiment 101			$8,900,000	^[4]
	Koch Media Dambuster Studios Fishlabs Volition	Austria/ Germany United Kingdom Germany United States	Plaion	$149,000,000	^[5]
	HandyGames	Germany	THQ Nordic		^[6]
	Coffee Stain Holding Coffee Stain Studios Coffee Stain North (60%) Ghost Ship Games (35%) Lavapotion (60%) Other Tales Interactive (20%)	Sweden Sweden Sweden Denmark Sweden Denmark	Coffee Stain Holding	$34,900,000	^[7]
	Bugbear Entertainment (90%)	Finland	THQ Nordic
	18Point2	Australia	Plaion	€1,900,000	^[8]
	Warhorse Studios	Czech Republic		€42,800,000	^[9]
	Piranha Bytes	Germany	THQ Nordic		^[10]
	KSM		Plaion		^[11]
	Gaya Entertainment				^[12]
	Milestone	Italy		€44,900,000	^[13] ^[14]
	Gunfire Games	United States	THQ Nordic		^[15]
	Goodbye Kansas Game Invest Fall Damage (50%) Framebunker (21%) Kavalri (21%) Neon Giant (24%) Palindrome Interactive (50%)	Sweden Sweden Denmark Sweden Sweden Sweden	Amplifier Game Invest	$3,950,000	^[16]
	Tarsier Studios	Sweden		$10,500,000	^[17]
	Saber Interactive Saber Belarus Saber Porto Saber Russia Saber Spain Saber Sweden	United States Belarus Portugal Spain Sweden	Saber Interactive	$525,000,000	^[18]
	Voxler	France	Plaion	€1,900,000	^[19]
	DestinyBit	Italy	Amplifier Game Invest		^[20]
	4A Games	Malta/ Ukraine	Saber Interactive	$45,000,000	^[21]
	New World Interactive	United States
	Rare Earth Games	Austria	Amplifier Game Invest	€3,300,000
	Vermila Studios	Spain		€900,000
	Palindrome Interactive (remaining 50%)	Sweden
	Pow Wow Entertainment	Austria	THQ Nordic
	DECA Games	Germany	DECA Games	€25,000,000
	Sola Media		Plaion	$2,700,000
	Vertigo Games	Netherlands		€50,000,000	^[22]
	Flying Wild Hog	Poland		$137,000,000	^[23]
	Purple Lamp Studios	Austria	THQ Nordic
		Hungary	Saber Interactive
	Snapshot Games	Bulgaria
	Nimble Giant Entertainment	Argentina
	34BigThings	Italy
	Mad Head Games	Serbia
	Sandbox Strategies	United States
	A Thinking Ape Entertainment	Canada	DECA Games	$31,000,000
	IUGO Mobile Entertainment
	Coffee Stain North (remaining 40%)	Sweden	Coffee Stain Holding
	Silent Games	United Kingdom	Amplifier Game Invest
	Quantic Lab (95%)	Romania		€4,500,000
	Gearbox Software Gearbox Studio Québec	United States Canada	Gearbox Software	$1,300,000,000	^[24]
	Easybrain	Cyprus/ Belarus	Easybrain	$640,000,000	^[25]
	Aspyr	United States	Saber Interactive	$450,000,000	^[26]
	SpringboardVR	United States	Plaion		^[27]
	Kaiko	Germany	THQ Nordic		^[28]
	Massive Miniteam
	Appeal	Belgium
	Frame Break	Sweden	Amplifier Game Invest
	3D Realms	Denmark/ United States	Saber Interactive		^[29]
	Slipgate Ironworks	Denmark
	CrazyLabs	Israel	DECA Games
	DigixArt	France	Plaion
	Force Field	Netherlands
	Ghost Ship Games (remaining 65%)	Denmark	Coffee Stain Holding
	Easy Trigger	Sweden
	Grimfrost (70%)		THQ Nordic
	Demiurge Studios	United States	Saber Interactive		^[30]
	Fractured Byte	Estonia
	SmartPhone Labs
	Bytex				^[31]
	Jufeng Studio	China	DECA Games		^[32]
	Splatter Connect	United Kingdom	Plaion		^[33]
	Asmodee Atomic Mass Games Bezzerwizzer Studio Catan Studio Days of Wonder Edge Entertainment Fantasy Flight Games Gamegenic The Green Board Game Company Libellud Lookout Games Mixlore Pearl Games Plan B Games Purple Brain Rebel Studio Repos Production Space Cow Space Cowboys Unexpected Games Z-Man Games Zygomatic	France United States Denmark United States France Spain United States Germany United Kingdom France Germany France Belgium Canada/ Germany France Poland Belgium France France United States United States France	Asmodee	€2,750,000,000	^[34]
	Green Tile Digital	Sweden	Amplifier Game Invest		^[35]
	Perfect World Entertainment	China United States	Gearbox Software	$125,000,000	^[36]
	Spotfilm Networkx	Germany	Plaion		^[37]
	Shiver Entertainment	United States			^[38]
	Digic Holdings Digic Pictures Digic Services	Hungary Hungary Hungary			^[39]
	Dark Horse Media Berger Books (50%) Dark Horse Comics Dark Horse Entertainment Dark Horse Games Dark Horse Manga DH Press Kitchen Sink Books (50%) Things From Another World	United States United States United States United States United States United States United States United States United States	Dark Horse Media		^[40]
	A Creative Endeavour	Sweden	Amplifier Game Invest		^[41]
	Metricminds	Germany	THQ Nordic		^[42]
	Development Plus Inc.	United States	Plaion		^[43]
	Invisible Walls	Denmark	Amplifier Game Invest		^[44]
	Beamdog	Canada	Saber Interactive		^[45]
	Lost Boys Interactive	United States	Gearbox Software		^[46]
May 2022	Assets of Square Enix Europe Crystal Dynamics Eidos-Montréal Square Enix Montréal	United States Canada Canada	CDE Entertainment	$300,000,000	^[47]
August 2022		United States	Saber Interactive		^[48]
	Tuxedo Labs	Sweden
	Middle-earth Enterprises	United States	Embracer Freemode
	Limited Run Games	United States
	Bitwave Games	Sweden
	Gioteck	United Kingdom
	Singtrix	United States
	Tatsujin	Japan
October 2022	Anime Limited	United Kingdom / France	Plaion Pictures		^[49] ^[50] ^[51]
	VR Distribution	Australia /	Asmodee		^[52]
	Captured Dimensions	United States	Gearbox Software		^[53]

Divestitures

Date	Company	Operative group	Buyer	Price
November 2019	Foxglove Studios	THQ Nordic	Management buyout		^[54]
July 2023	Goose Byte	Amplifier Game Invest			^[55]
October 2023	Fall Damage	Fragbite	$1,800,000	^[56]
November 2023	River End Games	Nordcurrent		^[57]
February 2024	Saber Interactive 3D Realms Digic Pictures Fractured Byte Mad Head Games New World Interactive Nimble Giant Entertainment Sandbox Strategies SmartPhone Labs Slipgate Ironworks Stuntworks	Saber Interactive	Beacon Interactive	$247,000,000	^[58]
March 2024	Gearbox Software	Gearbox Entertainment	Take-Two Interactive	$460,000,000	^[59]
Rainbow Studios	THQ Nordic	Management buyout		^[60]
May 2024	Shiver Entertainment	Saber Interactive	Nintendo		^[61]

Notes and References

1. Web site: THQ Nordic acquires Black Forest Games . James . Brightman . 21 August 2017 . . 14 February 2020 . 24 August 2017 . https://web.archive.org/web/20170824054606/https://www.gamesindustry.biz/articles/2017-08-21-thq-nordic-acquires-black-forest-games . live.
2. Web site: German game studio Black Forest Games acquired by Swedish game developer THQ Nordic. 22 August 2017 .
3. Web site: THQ Nordic buys Pieces Interactive, one of the veteran Swedish gaming companies, for $350k . Dragos . Novac . 28 August 2017 . Nordic 9 . 14 February 2020 . 20 June 2018 . https://web.archive.org/web/20180620101348/https://nordic9.com/news/thq-nordic-buys-pieces-interactive-one-of-the-veteran-swedish-gaming-companies-for-350k-news2030848553/ . dead.
4. Web site: Kerr . Chris . 17 November 2017 . THQ Nordic acquires Biomutant developer Experiment 101 . live . https://web.archive.org/web/20180512112242/https://www.gamasutra.com/view/news/309922/THQ_Nordic_acquires_Biomutant_developer_Experiment_101.php . 2018-05-12 . Gamessutra.
5. Web site: De Blob publisher THQ Nordic buys Koch Media for €121m . 14 February 2018 . 2020-11-29 . 2018-02-14 . https://web.archive.org/web/20180214225833/https://www.gamesindustry.biz/articles/2018-02-14-de-blob-publisher-thq-nordic-buys-koch-media-for-121m . live.
6. THQ Nordic acquires the German game developer and publisher HandyGames . Embracer Group . 9 July 2018 . 14 February 2020 . 14 February 2020 . https://web.archive.org/web/20200214004042/https://embracer.com/release/thq-nordic-acquires-the-german-game-developer-and-publisher-handygames/ . dead.
7. Web site: THQ Nordic acquires Coffee Stain and Bugbear Entertainment . Chris . Kerr . November 14, 2018 . . 14 February 2020 . 14 November 2018 . https://web.archive.org/web/20181114174907/https://www.gamasutra.com/view/news/330658/THQ_Nordic_acquires_Coffee_Stain_and_Bugbear_Entertainment.php . live.
8. Web site: Australian publishing partner 18Point2 acquired by THQ Nordic . Chris . Kerr . 13 February 2019 . . 14 February 2019 . https://web.archive.org/web/20190214233350/https://www.gamasutra.com/view/news/336567/Australian_publishing_partner_18Point2_acquired_by_THQ_Nordic.php . 14 February 2019 . live .
9. Web site: THQ Nordic acquire Kingdom Come: Deliverance makers Warhorse Studios . Sarah . James . 13 February 2019 . . 29 November 2020 . 19 February 2019 . https://web.archive.org/web/20190219072844/https://www.pcgamer.com/thq-nordic-acquire-kingdom-come-deliverance-makers-warhorse-studios/ . live.
10. Web site: THQ Nordic acquires Gothic developer Piranha Bytes . Mike . Jackson . 22 May 2019 . . 14 February 2020 . 29 May 2019 . https://web.archive.org/web/20190529133042/https://www.gamesindustry.biz/articles/2019-05-22-thq-nordic-acquires-gothic-developer-piranha-bytes . live.
11. Web site: Koch Films acquires German indie distributor KSM. Blaney2019-08-16T11:06:00+01:00. Martin. Screen. en. 2020-05-08.
12. Koch Media acquires Gaya Entertainment as it continues rapid expansion of both its reach and breadth of services. 2019-08-23. MCV/DEVELOP. en-GB. 2020-05-08.
13. Web site: Koch Media to acquire Milestone and all IPs, including MotoGP and Supercross . Vikki . Blake . 14 August 2019 . . 29 November 2020 . 5 September 2021 . https://web.archive.org/web/20210905101749/https://www.mcvuk.com/business-news/koch-media-to-acquire-milan-studio-milestone-and-all-ips-including-motogp-and-supercross/ . live.
14. Web site: THQ Nordic completes the acquisition of Milestone . Lars . Wingefors . 14 August 2019 . . 29 November 2020 . 14 August 2019 . https://web.archive.org/web/20190814202115/https://news.cision.com/thq-nordic-ab/r/thq-nordic-completes-the-acquisition-of-milestone,c2880843 . live.
15. Web site: THQ Nordic acquires Gunfire Games . Sal . Romano . 14 August 2019 . Gematsu . 29 November 2020 . 14 August 2019 . https://web.archive.org/web/20190814054530/https://gematsu.com/2019/08/thq-nordic-acquires-gunfire-games . live.
16. Web site: THQ Nordic strengthens portfolio with Goodbye Kansas Game Invest acquisition . Matthew . Handrahan . 14 August 2019 . . 14 August 2019 . https://web.archive.org/web/20190814211643/https://www.gamesindustry.biz/articles/2019-08-14-thq-nordic-strengthens-portfolio-with-goodbye-kansas-game-invest-acquisition . 14 August 2019 . live.
17. Embracer Group acquires critically acclaimed Tarsier Studios . Embracer Group . 20 December 2019 . 14 February 2020 . 20 December 2019 . https://web.archive.org/web/20191220081135/https://embracer.com/release/embracer-group-acquires-critically-acclaimed-tarsier-studios/ . dead.
18. Web site: Embracer Group acquires Saber Interactive in $525m deal . 19 February 2020 . 2020-11-29 . 2020-02-19 . https://web.archive.org/web/20200219212201/https://www.gamesindustry.biz/articles/2020-02-19-embracer-group-acquires-saber-interactive-in-usd525m-deal . live.
19. Web site: Koch Media | Koch Media acquires singing game developer VOXLER .
20. Web site: Amplifier Game Invest acquires DESTINYbit . Sal . Romano . 20 May 2020 . Gematsu . 22 May 2020 . 27 May 2020 . https://web.archive.org/web/20200527061716/https://www.gematsu.com/2020/05/amplifier-game-invest-acquires-destinybit . live.
21. Web site: THQ parent company Embracer has purchased Metro dev 4A Games and others . Chris . Kerr . 13 August 2020 . . 13 August 2020 . 15 August 2020 . https://web.archive.org/web/20200815085909/https://gamasutra.com/view/news/368163/THQ_parent_company_Embracer_has_purchased_Metro_dev_4A_Games_and_others.php . live.
22. Web site: Embracer Group acquires Vertigo Games . Gematsu . September 15, 2020 . September 16, 2020 . September 16, 2020 . https://web.archive.org/web/20200916094555/https://www.gematsu.com/2020/09/embracer-group-acquires-vertigo-games . live.
23. Web site: Embracer Group acquires 13 studios: Here's everything you need to know . 18 November 2020 . 2020-11-29 . 2020-11-29 . https://web.archive.org/web/20201129223518/https://www.gamesindustry.biz/articles/2020-11-18-embracer-group-acquires-13-studios . live.
24. Web site: Embracer Group acquires Borderlands maker Gearbox Entertainment for $1.3 billion . Dean . Takahashi . February 2, 2021 . February 2, 2021 . . February 3, 2021 . https://web.archive.org/web/20210203212853/https://venturebeat.com/2021/02/02/embracer-group-acquires-borderlands-maker-gearbox-entertainment-for-1-3-billion/ . live.
25. Web site: Embracer Group acquires mobile game maker Easybrain for $640 million . Dean . Takahashi . February 2, 2021 . February 2, 2021 . . February 3, 2021 . https://web.archive.org/web/20210203064103/https://venturebeat.com/2021/02/02/embracer-group-acquires-mobile-game-maker-easybrain-for-640-million/ . live.
26. Web site: Embracer Group acquires Aspyr Media for up to $450 million . Dean . Takahashi . February 2, 2021 . February 2, 2021 . . February 3, 2021 . https://web.archive.org/web/20210203071452/https://venturebeat.com/2021/02/02/embracer-group-acquires-aspyr-media-for-up-to-450-million/ . live.
27. Web site: Feltham . Jamie . 2021-02-03 . Vertigo Games Buys VR Arcade Platform SpringboardVR . 2022-04-18 . en-US.
28. Web site: Embracer Group acquires Appeal Studios, KAIKO, Massive Miniteam and FRAME BREAK . 2021-06-02 . 2021-05-12 . https://web.archive.org/web/20210512084736/https://embracer.com/release/embracer-group-acquires-appeal-studios-kaiko-massive-miniteam-and-frame-break/ . live.
29. Web site: Embracer Group acquires 3D Realms, CrazyLabs, Digixart, Easy Trigger, Force Field, Ghost Ship Games, Grimfrost, and Slipgate Ironworks . Gematsu . August 4, 2021 . August 5, 2021 . August 5, 2021 . https://web.archive.org/web/20210805074808/https://www.gematsu.com/2021/08/embracer-group-acquires-3d-realms-crazylabs-digixart-easy-trigger-force-field-ghost-ship-games-grimfrost-and-slipgate-ironworks . live.
30. Web site: Embracer's next three acquisitions are Demiurge Studios, Fractured Byte and SmartPhone Labs . 18 August 2021 . 2021-08-18 . 2021-08-18 . https://web.archive.org/web/20210818122340/https://www.gamesindustry.biz/articles/2021-08-18-embracers-next-three-acquisitions-are-demiurge-studios-fractured-byte-and-smartphone-labs . live.
31. Web site: Embracer Group snaps up QA studio Bytex known for working on games like SnowRunner and World War Z . 22 September 2021 . 2021-09-22.
32. Web site: Embracer Group acquires mobile game developer Jufeng Studio and eight mobile titles.
33. Web site: Koch Media acquires Splatter Connect . 2022-04-18 . GamesIndustry.biz . 20 October 2021 . en.
34. Web site: Embracer purchases Asmodee for €2.75bn. 15 December 2021 .
35. Web site: AMPLIFIER ACQUIRES SWEDISH STUDIO GREEN TILE DIGITAL. 15 December 2021 .
36. Web site: EMBRACER GROUP ENTERS INTO AGREEMENT TO ACQUIRE PERFECT WORLD ENTERTAINMENT.
37. Web site: EMBRACER GROUP ENTERS INTO AGREEMENT TO ACQUIRE SPOTFILM NETWORX.
38. Web site: EMBRACER GROUP ACQUIRES SHIVER ENTERTAINMENT.
39. Web site: EMBRACER GROUP ENTERS INTO AGREEMENT TO ACQUIRE DIGIC.
40. Web site: EMBRACER GROUP ENTERS INTO AN AGREEMENT TO ACQUIRE DARK HORSE AND FORMS THE TENTH OPERATIVE GROUP.
41. Web site: AMPLIFIER GAME INVEST ACQUIRES A CREATIVE ENDEAVOR. 23 February 2022 .
42. Web site: THQ Nordic acquires animated content studio metricminds . Gematsu . February 24, 2022.
43. Web site: Koch Media acquires Game Merchandise Specialists "Development Plus Inc." and "DPI Logistics LLC".
44. Web site: Amplifier Game Invest acquires Danish game studio Invisible Walls. 16 March 2022 .
45. Web site: Knights of the Old Republic remake studio Aspyr has acquired Beamdog. 13 April 2022 .
46. Web site: Gearbox to acquire Tiny Tina co-developer Lost Boys Interactive. 21 April 2022 .
47. Web site: 2022-05-02 . Embracer Group enters into an agreement to acquire Eidos, Crystal Dynamics, and Square Enix Montréal amongst other assets . 2022-05-02 . Embracer.
48. Web site: 2022-08-18 . Embracer Group makes more acquisitions, including the Hobbit and Lord of the Rings IP.
49. Web site: German Film Magazine: PLAION Pictures Acquires UK's Anime Limited. Hodgkins. Crystalyn. 18 October 2022. Anime News Network. 18 October 2022.
50. Web site: BREAKING: Anime Limited Acquired by Plaion Pictures. 18 October 2022. Anime UK News. 18 October 2022.
51. Web site: Plaion Pictures übernimmt Anime Ltd.. Rumbacher. Jörg. 18 October 2022. Blickpunkt:Film. 18 October 2022. German.
52. Web site: ASMODEE GROUP ACQUIRES VR GROUP TO EXPAND MASS-MARKET DISTRIBUTION . 2022-10-20 . 2022-10-21 . The Toy Book . Campbell . Maude . https://web.archive.org/web/20221020164554/https://toybook.com/asmodee-group-acquires-vr-group/ . 2022-10-20.
53. Web site: January 4, 2023 . Gearbox Entertainment Company Announces Acquisition of Captured Dimensions . live . https://web.archive.org/web/20230104160103/https://www.gearboxsoftware.com/press_release/gearbox-entertainment-company-announces-acquisition-of-captured-dimensions . January 4, 2023 . January 4, 2023 . Gearbox Software.
54. Web site: THQ Nordic Annual Report 2018/19 . Lars . Wingefors . 27 August 2019 . . 14 September 2019 . https://web.archive.org/web/20190903202650/https://mb.cision.com/Main/15049/2890795/1096896.pdf . 3 September 2019 . live.
55. Web site: The video game studio.
56. Web site: Fragbite Group acquires DICE alum studio Fall Damage.
57. Web site: Mobile publisher Nordcurrent acquires River End Games.
58. Web site: Writer . Jeffrey Rousseau Staff . 2024-02-29 . Report: Saber Interactive buys itself back from Embracer in $500m deal . 2024-02-29 . GamesIndustry.biz . en.
59. Web site: Take-Two Buys Gearbox From Embracer, Confirms Development on New Borderlands Game.
60. Web site: About Us . Rainbow Studios . 20 May 2024.
61. Web site: Robinson . Andy . Nintendo agrees deal to buy Hogwarts Legacy, Mortal Kombat Switch studio . Video Games Chronicle . 20 May 2024.