Embracer Group publishes Interim Report Q3, October-December 2020: Operational EBIT Increased 100% to SEK 603 Million
THIRD QUARTER, OCTOBER-DECEMBER 2020 (COMPARED TO OCTOBER-DECEMBER 2019)
> Net sales increased by 44% to SEK 2,168.1 million (1,508.5). Net sales of the Games business area increased by 62% to SEK 1,355.6 million (835.7). THQ Nordic SEK 379.8 million (333.0), Deep Silver SEK 496.9 million (466.6), Coffee Stain SEK 99.2 million (36.1), Saber Interactive SEK 307.0 million (-) and DECA Games SEK 72.7 million (-).
> Net sales of Partner Publishing/Film business area increased by 21% to SEK 812.5 million (672.9).
> EBITDA increased by 70% to SEK 878.7 million (518.4), corresponding to an EBITDA margin of 41%.
> Operational EBIT increased by 100% to SEK 603.1 million (302.1) corresponding to an Operational EBIT margin of 28% (20%).
Sweden game conglomerate grows even larger
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Embracer Group AB has announced a merger agreement with US based The Gearbox Entertainment Company.
Gearbox, based in Frisco, TX and founded in 1999, has been self-funded by the employees from inception. Post-closing, Gearbox will become a seventh operating group as a wholly own subsidiary of Embracer. Gearbox Founder and CEO Randy Pitchford will continue to lead Gearbox, and Randy Pitchford and the employees of Gearbox will jointly become a significant shareholder in Embracer.
The day one purchase price amounts to USD 363 million in total. Subject to fulfilment of agreed financial and operational targets in the next six years, an additional consideration of maximum USD 1,015 million may be paid. To earn the maximum consideration, USD 1,378 million the accumulated Adjusted EBITDA, including expensed development costs, must exceed USD 1,300 million over six years.
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Borderlands Studio Gearbox Acquired By Embracer Group For Up To $1.3 Billion, 2K Remains On Board
The Texas studio is now owned by the Swedish company, but 2K Games will continue to publish Borderlands.
Veteran American studio Gearbox Software has been acquired by the Swedish company Embracer Group in a sale valued at up to $1.3 billion.
As part of the buyout, Gearbox is getting the money, or rocket fuel, as the company said, to fuel Gearbox s powerful creative engine. Despite the buyout, 2K Games will continue to publish the Borderlands series. As the proud publisher of the Borderlands franchise, we are happy for our partners at Gearbox and this exciting new chapter for their organization, a spokesperson for 2K said. The merger does not change 2K’s relationship with Gearbox nor our role as the publisher for the Borderlands IP or any other projects we are currently working on with the studio. We look forward to continuing our long-term partnership with this incred
Embrace Group Seals Borderlands Creator Gearbox Acquisition Deal Worth $1.3 Billion
Photo : Screenshot from Gearbox Official s Official YouTube Channel
Gearbox, the developers of world-renowned series of video games Borderlands has been acquired by tech PLC or publicly listed company Embracer Group through a deal priced at around $1.3 billion.
The acquisition has put Gearbox as the seventh official operating group owned by Embracer Group since it was established under the name Nordic Games way back in 2008. Some of the other existing operating groups owned by the PLC lists THQ Nordic, Koch Media, Amplifier Game Invest, Saber Interactive, DECA Games, and Coffee Stain Holding.