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Embracer Group discussed acquisition with 150 companies last quarter

Embracer Group’s spate of acquisitions shows no sign of slowing down, with the company revealing that it had acquisition talks with 150 companies last quarter.

That comes from the company’s fourth quarter earnings report, in which it revealed that it was in “late stage talks” with over 20 parties, including some that had signed letters of intent – although the company is not yet ready to name those parties.

“It is important that we stay prudent in our M&A strategy and not rush into closing a transaction before it is ready,” Embracer told investors. “In M&A as in game development, quality comes first.”

For the year ended March 31, the company reported net sales up 72% to SEK 9.02 billion and net profits up just under 2% to SEK 287 million.

Embracer Group had a particularly successful fourth quarter, thanks to the early access launch of Valheim, which has sold 6.8 million copies.

Q4 net sales were SEK 2.4 billion, up 80%, while net profits up 20% to SEK 159 million.

Embracer Group has made some headline-grabbing acquisitions and mergers recently. The Group merged with Borderlands creator Gearbox Entertainment in February, in a $1.4bn deal that saw CEO Randy Pitchford and Gearbox employees becoming a “significant shareholder” in Embracer.

Going back further, and closer to home, the Group acquired 12 game studios and a PR firm back in November last year, including the UK-based developer Silent Games.

About Chris Wallace

Chris is MCV/DEVELOP's staff writer, joining the team after graduating from Cardiff University with a Master's degree in Magazine Journalism. He can regrettably be found on Twitter at @wallacec42, where he mostly explores his obsession with the Life is Strange series, for which he refuses to apologise.

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