Swedish holding Embracer Group is ready to buy more studios. Almost $900 million the company is about to raise will definitely help in reaching this goal.
Embracer Group has issued 36 million new shares, with each of them worth $24.71. The holding group expects to raise $893.9 million from the process, according to Gamesindustry.biz.
The money will go on strengthening the company’s financial position and buying new developers, publishers, and other assets (it probably means purchasing rights for IPs and franchises). Embracer Group is now evaluating potential targets for its future acquisitions.
The Swedish company has been active in the M&A market for a while. In February, Embracer Group acquired three more studios, including Gearbox Software (the deal is reportedly worth $1.38 billion). Last year, the company bought numerous game companies, including Vertigo Games and 4A Games.
Now the holding has 150 games in development and has no plans to slow down. Its latest hit Valheim, published by Embracer’s subsidiary Coffee Stain, surpassed 5 million copies sold earlier this month.