Hug group is trying to plug budget holes after a major $2 billion collaboration failed. The owner of THQ Nordic and Deep Silver should have received this money from Smart games group, but the Saudi government pulled out of the deal after seven months of negotiations. This led to shares fell more than 40 percent and announcement of a restructuring program. As part of it, some development teams will be closed and some projects will be cancelled.
According to Reuters, Embracer Group is considering selling Gearbox Software. Some unidentified international gaming groups are interested in the creators of the Borderlands series, but the Swedish company has not yet made a decision. Instead, he will have to weigh the pros and cons of a sale with Goldman Sachs and Aream & Co, which specialize in financial advice to large companies.
Sources warned that the sale may not go through. The biggest problem will probably be the price, Embracer bought Gearbox in 2021 for $1.4 billion.. Last year, for $300 million, it bought most of Square Enix’s Western development division: Crystal Dynamics, Eidos Montreal and Square Enix Montreal, with rights to many brands including Tomb Raider and Deus Ex. Embracer also owns the rights to The Hobbit and The Lord of the Rings and has quickly become Europe’s largest video game company.
Embracer Group recently Studio “Volya” is closed., which is behind the Saints Row series. She had previously locked the Cabal at the fire. This team began forming in September last year, led by Jonas Wever, who specializes in high-quality story-driven RPGs.
Last year, Volition studio became part of Gearbox, having previously been part of Deep Silver.
Source :Indian TV
