Swedish holding company Hug group announced the completion of a “restructuring” process after ten months of intensive cost and debt reduction. The company was forced to make significant savings due to the failure of its planned acquisition of Saudi Arabian state-owned Savvy Games in the summer of 2023. Embracer’s financial problems led to a number of layoffs, studio closures and the sale of two main divisions.
“We are approached, I would say not quite daily, but weekly, by companies that would like to acquire certain parts of the group. And I clearly say that they are not for sale, because they are very important for the holding and its shareholders in the future,” explains the head of Embracer. Lars Wingefors during a call with investors spotted by Rock Paper Shotgun.
But Embracer has no plans to start buying again in the near future: “As for other transactions, I think it is too early to talk about resuming mergers and acquisitions. We are now at an advanced stage of assessing the future of the group and this is our top priority.” The company must find a new system of work, structure and cooperation between its companies.
Almost lost my job 1400 employees. She completely completed her studies will, Free radical, Bondage by the fire or He has (formerly Square Enix Montreal). Layoffs further impacted teams such as Eidos Montreal, Crystal Dynamics, Mysterious, Digital, Gearbox Publishing, Fishlabs, New World Interactive, 3D worlds And Metallurgical plant with folding gates. A significant step towards achieving this goal was the sale of a couple of Embracer companies. Saber Interactive And Gearbox Entertainment.
Source : Zing
