STOCKHOLM, Aug. 5, 2021 /PRNewswire/ -- Embracer Group AB
("Embracer"), through its wholly owned subsidiary Saber
Interactive[1] ("Saber"), has today entered into an
agreement to acquire 100 percent of the shares in Slipgate
Ironworks ApS ("Slipgate") and 40 percent of the shares in 3D
Realms Entertainment ApS. Slipgate, based in Aalborg, Denmark, is a game development studio with
long experience in collaborating with leading publishers and
IP-owners on a broad range of projects. Through the acquisition,
Embracer onboards a strong team with proven expertise in
development, co-development and porting.
"Slipgate is an exciting independent studio from Denmark fueled by a passion for game
development. We have experienced first-hand the hard work and
dedication that the studio has, and their talent will benefit the
entire Embracer organization. We look forward to working together
with them on future titles," says Andrey Iones, CCO, Co-founder Saber
Interactive.
Background and rationale
Slipgate was founded in 2017[2] by Frederik Schreiber, who together with
Kent Christoffersen has built up a
strong team with extensive and diverse experiences from the games
industry. The founder-led company has a team of 100+ total staff,
including a handful of contractors, comprised of dedicated
developers, industry veterans and new talent in Denmark, across Europe and in the US. The team has proven
capable of high-quality new game development, third-party titles,
and porting projects across various genres and for PC and console
and with a particular passion for retro shooters. Slipgate has a
long-standing history of collaborating with companies within the
Embracer Group, primarily Saber and THQ Nordic, and will work on a
very compelling project pipeline for the foreseeable future.
Notable recent projects where Slipgate has been involved in
development and porting include Ghostrunner, the original
IP GRAVEN and an upcoming AA porting project from THQ
Nordic. The company was wholly owned by the sellers Frederik and
Kent who will both remain in their current roles. Going forward,
Slipgate will operate as a subsidiary to Saber.
"We've established a great foundation at Slipgate, and have
worked with Saber on several projects. We quickly found a great
synergy and share a common vision for the quality of games we want
to deliver. With this acquisition, we'll be able to expand our
activities at both Slipgate and 3D Realms, with a strong and
dedicated partner. We couldn't imagine a better match!", says
Frederik Schreiber, CEO Slipgate
Ironworks.
Purchase Price
The parties have agreed not to disclose the terms. The purchase
price contains an upfront part and a 6-year earn-out and consists
of a mix of cash and newly issued Embracer B shares. The
transaction is in line with previous Embracer transactions.
Completion of the transaction
The transaction was completed as of 15
July 2021.
Advisers
Ernst & Young AB is providing transaction support and Baker
McKenzie and Mazanti-Andersen is acting as legal counsel to
Embracer in the transaction.
For additional information, please contact:
Lars Wingefors, Co-founder and Group CEO of Embracer Group
AB
Tel: +46 708 47 19 78
E-mail: lars.wingefors@embracer.com
Andrey Iones, Co-founder and
CCO of Saber Interactive
E-mail: iones@saber3d.com
Frederik Schreiber, Co-founder
and CEO of Slipgate Ironworks
E-mail:
freds@slipgate-ironworks.com
About Embracer Group
Embracer Group is the parent company of businesses developing
and publishing PC, console and mobile games for the global games
market. The Group has an extensive catalogue of over 240 owned
franchises, such as Saints Row, Goat Simulator, Dead Island,
Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters,
Satisfactory, Wreckfest, Insurgency, World War Z and Borderlands,
amongst many others.
With its head office based in Karlstad, Sweden, Embracer Group has a global presence
through its eight operative groups: THQ Nordic GmbH, Koch Media
GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest, Saber
Interactive, DECA Games, Gearbox Entertainment and Easybrain. The
Group has 69 internal game development studios and is engaging more
than 7,000 employees and contracted employees in more than 40
countries.
Embracer Group's shares are publicly listed on Nasdaq First
North Growth Market Stockholm under the ticker EMBRAC B with FNCA
Sweden AB as its Certified Adviser; info@fnca.se +46-8-528 00
399.
Subscribe to press releases and financial information:
https://embracer.com/investors/subscription/
For more information, please
visit: https://www.embracer.com
Webcast presentation for investors, analysts and
media
Representatives from Embracer Group and Slipgate will
participate in a webcast presentation today at 09.00 CET.
Invitation and details for participation will be sent out by a
separate press release.
[1] Acquired through Embracer's wholly owned subsidiary Embracer
Group Lager 2 AB and will be part of the Saber Interactive
group.
[2] Founded as Interceptor in 2011, rebranded as Slipgate in
2017 with largely the same team
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/embracer-group-ab/r/embracer-group-acquires-slipgate-ironworks,c3392449
The following files are available for download:
https://mb.cision.com/Main/15049/3392449/1450874.pdf
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Embracer Group
acquires Slipgate Ironworks
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