Originally published at: Embracer Group Selling Saber Interactive in $500 Million Deal - XboxEra
Reported by Bloomberg’s Jason Schreier, Swedish gaming and media holding company Embracer Group will sell off Saber Interactive in a $500 million deal, making Saber a private company with nearly 3,500 employees per the paper’s source who asked not to be identified.
This comes as one of the company’s many cost-cutting measures since a reported deal with a Saudi-based gaming group, Savvy Games Group, fell through in May. Since then Embracer has gone on to cancel multiple projects such as a new Deus Ex title, shutter and sell studios it has spent the last few years acquiring such as Volition Studios and Gearbox, and with more on the way as part of the company’s restructuring plan.
Saber Interactive Group, a developer and publisher of games such as ‘Snowrunner’, ‘World War Z’, and more now plans to continue developing the ‘Star Wars: The Knights of the Old Republic’ remake that was reportedly removed from developer Aspyr Media and given to the subsidiary. Embracer had purchased Saber for $525 million along with multiple organisations since 2020, though with the recent closures impacting game development across Europe, naturally Embracer Group has drawn ire from developers and fans alike. Some of which have expressed this sentiment right at Embracer CEO Lars Wingefors during the DICE Awards.
On another note, Jason has hinted at an upcoming report regarding Gearbox Software in his Tweet thread below.
SCOOP: Saber Interactive, developer of the Star Wars: Knights of the Old Republic remake, will leave Embracer in a $500 million deal to become a privately owned company — the biggest move yet in Embracer's ongoing cost-cutting initiative https://t.co/QzpQ2uQ9r2
— Jason Schreier (@jasonschreier) February 29, 2024
