Embracer Group has announced to investors that it has sold Saber Interactive for a total of $247 million to a company called Beacon Interactive, which is under the control of Saber's co-founder Matthew Karch.
As part of the sale, Saber will retain the following studios: Nimble Giant, DIGIC, Fractured Byte, Sandbox Strategies, 3D Realms, Mad Head Games, New World Interactive, and Slipgate. Meanwhile, Embracer Group wll retain: 34 Big Things, Shiver, Beambog, Aspyr, 4A Games, Snapshot, Tripwire, Tuxedo Labs, Zen Studios, and Demiurge.
As for 4A Games and Zen Studios specifically, these are currently subject to option agreements, so they both may well join Saber Interactive along with the other aforementioned studios. Should this occur, the total value of the deal will increase to $500 million.
As a result of the sale, Embracer Group is reportedly now able to discontinue all operations in Russia; a goal that had previously been set by the board in order to reduce geopolitical risk.
In a statement, Embracer CEO Lars Wingefors highlighted the sale as a win-win scenario:
“I am pleased that we have found a win-win solution for Embracer and the parts of Saber that now will leave us. This transaction puts both companies in a stronger position to thrive going forward. Embracer is now able to discontinue all operations in Russia, according to a previous board decision, while safeguarding many developer jobs under new independent ownership. At the same time, we keep key companies, valuable IPs and future publishing rights. Cash flow is immediately improved, and we remain committed to reducing net debt"
The sale is the latest in a string of moves from Embracer Group to reduce its debt, including studio closures and widespread staff reductions.