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Embracer was not the one group to rule them all after $2 billion deal falls through
Embracer Group’s run of acquisitions may have finally come to an end. This week the Swedish video game and media holding company, which has made countless headlines buying up everything from the IP rights to Lord of the Rings to the studios behind Tomb Raider, Deus Ex, and Borderlands, announced it would be “restructuring” in an attempt to make itself “a leaner, stronger and a more focused, self-sufficient company.”
An open letter from group CEO Lars Wingefors says this restructuring will include shutting down or selling off studios, halting or pausing development on games, and cutbacks to spending more generally. Wingefors also wants the company to focus more on its internal IP and bring in more external funding for big-budget games.
by #AI June 14, 2023 · Automatic
