Embracer Group News - Page 2 of 3

High-Ranking Developers At Cryptic Studios Are Apparently Looking To Jump Ship

October 17, 2023 Marc Marasigan Comments

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Something ominous is afoot over at Cryptic Studios as several key members of the Star Trek Online and Neverwinter development team announced on LinkedIn yesterday that they were looking for new job opportunities. These developers include senior game designer Jesse Heinig, senior technical artist Chris Penny, gameplay engineer David Nishball, and senior community manager Mike Fatum, a.k.a. Ambassador Kael. While [...]

Embracer Group Is Reportedly Selling Gearbox Entertainment And Its MMOs

September 12, 2023 Marc Marasigan Comments

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Embracer Group’s failed $2 billion partnership deal is generating bigger waves than we initially expected. With the company undergoing major restructuring, cancelling games, and laying off employees to stay afloat, its now reportedly considering selling off Gearbox Entertainment and its portfolio of MMOs. According to Reuters, the Swedish video game holding company is currently talking with advisors on potentially selling [...]

Embracer Group Restructuring Plans Will Lead To Layoffs And Game Cancellations

June 14, 2023 Marc Marasigan Comments

Late last month, Embracer Group, the massive video game holding company that owns Gearbox Entertainment and Cryptic Studios, saw its stock prices plummet by as much as 40% and its earning forecast take a dive when a 2-billion-dollar partnership deal fell through. In response, the company has announced a major restructuring and consolidation which they confirmed will require them to [...]

Embracer Group Stocks Plummet Over 40% After Failed $2 Billion Partnership Deal

May 25, 2023 Marc Marasigan Comments

Embracer Group first made headlines in the MMO industry when it acquired Perfect World Entertainment’s western arm along with its subsidiary, Cryptic Studios. This gave the video game holding company access to several big-name MMOs, including Champion’s Online, Neverwinter, and Star Trek Online. Both PWE and Cryptic were later renamed and bundled under Gearbox Entertaintment as Gearbox Publishing. More recently, [...]

Amazon Announces Another Lord Of The Rings MMO In Partnership With Embracer

May 15, 2023 Marc Marasigan Comments

Remember that Lord of the Rings MMO that Amazon Game Studios cancelled back in 2021? Well, the game is now back on the drawing table as the studio partners with Embracer Group to finally get it done. Embracer Group is known around these parts as the company that bought out Perfect World Entertainment and Cryptic Studios back in 2021 before [...]

Embracer’s Quarterly Financial Report Confirms Five Lord Of The Rings Games In The Making

February 18, 2023 Marc Marasigan Comments

Embracer Group has published its Q3 2023 financial report which shows relatively good performance across its portfolio of games. The highlight of the report, however, is confirmation that its subsidiaries are working on not one, not two, but five Lord of the Rings titles following its acquisition of Middle-Earth Enterprises last year. The Swedish video game holding company previously announced [...]

Embracer Group To Acquire The Lord Of The Rings Trilogy And The Hobbit IP Rights

September 6, 2022 Marc Marasigan Comments

Embracer Group, the video game holding company that snapped up numerous video game companies and studios over the past few months, will soon gain control of The Lord of the Rings IP and all of its associated franchises just as the One Ring controls the Rings of Power. The Swedish company is currently in the process of acquiring Middle-earth Enterprises [...]

Saudi Arabia Acquires 8.1% Of Embracer Group In A $1 Billion Deal

June 9, 2022 Marc Marasigan Comments

A Saudi Arabian prince has acquired minority stake in Swedish video game holding company Embracer Group through Savvy Gaming Group. Savvy, a subsidiary that’s fully-owned and operated by the Saudi Arabia Public Investment Fund (PIF) headed by crown prince Mohammed bin Salman, purchased $1 billion worth of Embracer’s shares which equates roughly an 8.1% stake in the company. Saudi-based companies [...]

Embracer Group Is Looking To Revive Tomb Raider, Deus Ex, And Thief Franchises

May 21, 2022 Marc Marasigan Comments

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Swedish video game holding (more like grabbing) company Embracer Group apparently has big plans for the Tomb Raider, Deus Ex, and Thief franchises following its recently-announced acquisition of Eidos Montreal, Crystal Dynamics, and Square Enix Montreal. All three franchises have had various spinoffs made over the past few years but are now languishing in development limbo. The new Tomb Raider [...]

Embracer Group To Acquire Three Square Enix Europe Studios For $300M

May 3, 2022 Marc Marasigan Comments

After buying out Perfect World Entertainment and its subsidiaries earlier this year, Embracer Group is now in the process of acquiring three new development studios, namely: Crystal Dynamics, Eidos Montreal, and Square Enix Montreal, all of which are subsidiaries of Square Enix Europe. The total purchase price for all three studios is $300 million to be paid up front in [...]

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