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Saudi Arabia’s Public Investment Fund Acquires $1 Billion Stake In Embracer Group

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Embracer
Picture: Embracer Group

Following a collection of online game firm acquisitions made by Saudi Arabia’s Public Funding Fund not too long ago, the state-run wealth fund has now spent $1.05 billion to buy an 8.1% stake in Embracer Group.

That stake will make the PIF’s Savvy Gaming Group the second-largest shareholder in Embracer, in keeping with Bloomberg. This follows latest investments by the PIF and its subsidiaries in gaming firms corresponding to Capcom (5%), SNK (96%), and Nintendo (5%).

Embracer itself is one in all Europe’s largest and fastest-growing online game firms. The Swedish agency was itself within the information initially of Might after buying a number of big-name IPs and related studios from Sq. Enix, together with Crystal Dynamics and the Tomb Raider collection, plus Sq. Enix Montreal and Eidos-Montreal together with Deus Ex, Thief, Legacy of Kain and others. Embracer additionally picked up Borderlands developer Gearbox again in February 2021 and the writer owns a number of different teams together with THQ Nordic, Koch Media, Saber Interactive, DECA Video games, and Darkish Horse.

Lars Wingefors, Embracer Group’s founder and group CEO. had this to say of the inventory acquisition in a discover shared on the corporate’s web site:

Our relationship with Savvy Gaming Group will allow us to arrange a regional hub in Saudi Arabia, from which we can make investments throughout the MENA area, both organically, through partnerships, joint ventures, or through acquisitions of firms led by robust entrepreneurs.”

The PIF’s investments have drawn scrutiny and criticism from different nations lately resulting from Saudi Arabia’s human rights report, which is tracked and reported on by organisations corresponding to Amnesty.

As it is a delicate subject, please hold our Group Guidelines in thoughts when discussing it under.





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