Swedish holding company Hug group will be split into three separate companies. Management hopes smaller firms will be more resilient than the current behemoth, which suffered serious financial problems last year. He will remain the owner of all three new publishing houses. Lars Wingefors.
The largest de facto company will not be new, as it will be a renamed Embracer from which the other two companies will be spun off. At the moment it is called Enterprises and Friends of Middle-earth and will focus on publishing AAA titles. In particular, Embracer writes about the Lord of the Rings license, as well as the Tomb Raider and Metro series. The company will include studios such as Crystal Dynamics, Dambuster, Eidos-Montréal, Flying Wild Hog, Tripwire, Vertigo Games, Warhorse and 4A Games, as well as the entire Plaion division.
A small gaming company has a temporary name Coffee stain and friends. Coffee Stain will be joined here by the teams Ghost Ship, Tarsier, Cryptic, Tuxedo Labs and THQ Nordic. They will publish AA, free games, live service games and mobile games. They have brands such as Deep Rock Galactic, Goat Simulator, Wreckfest, Valheim and Star Trek Online.
The company will also be separated from Embracer Asmodeusdedicated to board games. It consists of 23 in-house studios that work on games based on Star Wars, LEGO, Game of Thrones or Lord of the Rings licenses.
The companies will be roughly the same size, each with sales between $900 billion and $1.4 billion in 2023, and shareholders will choose how to allocate their finances. Asmodee is expected to spin out within the next twelve months, and Coffee Stain & Friends by the end of 2025.
“This move was made with the intention of unlocking each team’s full potential and providing them with their own leadership and strategic direction. This is the beginning of a new chapter, a chapter in which I intend to continue to participate as an active, interested and supportive shareholder of all three new companies with a forward-looking perspective,” says Embracer CEO Lars Wingefors.
Source :Indian TV
