After Capcom and Nintendo, Saudi Arabia enters the capital of another major video game company

A public investment fund in the country is investing $1,000 million in Embracer Group.

Saudi Arabia continues to expand its presence in video games. After entering the capital of several Japanese companies, among them Capcom and Nintendo, the Middle Eastern country bought a stake. more than $1,000 million In the Embracer Group, for a few weeks, he owns THQ Nordic and Gearbox, among other companies, including Eidos Montreal and Crystal Dynamic.

The purchase was made through a share issue worth 10.3 billion Swedish kronor (€980 million at current exchange rates). As with Nintendo, it did not enter the capital of the Saudi Arabian Embracer Group directly, but through the Savvy Gaming Group, which is owned by the Riyadh public investment fund. At the closing of the transaction, Savvy Gaming Group will receive 8.1% of total capital 5.4 percent of the video game conglomerate and 5.4 percent of the voting rights.

Embracer Group aims to expand in the Arab worldEmbracer Group is advocating an agreement that would allow them to set up a regional headquarters in Saudi Arabia, the Embracer Group said in a statement. Spread across the Middle East and North Africaorganically, through partnerships, joint ventures or acquisitions of companies led by strong entrepreneurs. Savvy Gaming Group has pledged to support Embracer in its plans.

In this way, the owners of Saber Interactive also receive a significant capital injection to continue the growth plans of a holding company with up to 120 video game development studios with more than 12,750 contract employees in 40 countries. Saints Row, Borderlands (will continue to edit 2K), Darksiders, Tomb Raider, etc. licensed franchises with well-known names such as

The Embracer Group also recently launched a video game preservation project that brings together 50,000 games, consoles and accessories in one year.