KARLSTAD, Sweden, Aug. 18,
2022 /PRNewswire/ -- Embracer Group AB
("Embracer"), through its wholly owned subsidiary
Freemode1, has entered into an agreement to
acquire Singtrix LLC ("Singtrix") from its founders.
Singtrix, based in the Los
Angeles area, is an award-winning creator of industry
leading vocal processing effects technology for karaoke, gaming,
and entertainment. Through the transaction, Freemode gains a world
class group of entrepreneurs and creators, adding to its innovation
group in the US. The Singtrix team has a 25-year history of
developing iconic music games and is noted as the first to patent
the core technology behind the Guitar Hero Franchise.
"The Singtrix team is one of the most highly regarded
innovators in music gaming, vocal processing, and entertainment.
Their proven track record behind groundbreaking mass music
franchises and inspiring singing experiences is without parallel
and makes them a perfect fit for Freemode's plan to vastly expand
its entertainment offerings", says Lee Guinchard, CEO of
Freemode.
Background and rationale
Singtrix creator and CEO John
Devecka is a music gaming pioneer. In 1996, John patented
and invented the first music video game, MTV Drumscape, which
became a top-10 attraction in arcades. His foundational music
gaming patent portfolio was ultimately acquired by Activision for
its smash hit Guitar Hero, where he worked with top gaming and
development studios introducing new music gaming technology. After
leaving Activision, Devecka reinvented karaoke with Singtrix and
its industry leading studio quality vocal effects. Together, with
his co-founders Al Roque and
Eric Berkowitz, the Singtrix team
plan to bring the next pop culture musical experience to the
world.
Through the acquisition, Freemode welcomes a highly innovative
team of 5 and its extensive network that will strengthen Freemode's
game development and present new opportunities for music and audio
gaming products. Management expects that Singtrix will expand its
vocal technology platform into a broad range of new music games,
streaming, and mobile franchises. In addition, Singtrix's presence
in Los Angeles further builds on
Freemode's footprint in the US and provides a new major hub of
entertainment creator talent on the West Coast.
Purchase Price
The parties have agreed not to disclose specific terms due to
commercial reasons. The terms and conditions for the acquisition
are in line with previous Embracer transactions.
1Acquired through Embracer's subsidiary Embracer
Freemode Iconic Holding Inc. and will be part of the operative
group Embracer Freemode.
For additional information, please
contact: Oscar Erixon,
Head of Investor Relations Embracer Group AB (publ)
Tel: + 46 730 24 91 42
Email: oscar.erixon@embracer.com
Beatrice Forsgren, Head of
Brand and Communication Embracer Group AB (publ)
Tel: +46 704 52 57 63
E-mail: beatrice.forsgren@embracer.com
Lee Guinchard, CEO Embracer
Freemode AB
Tel: +1 408 649 1100
E-mail: lee.guinchard@embracerfreemode.com
About Embracer Group
Embracer Group is a parent company of businesses led by
entrepreneurs in PC, console, mobile and board games and other
related media. The Group has an extensive catalog of over 850 owned
or controlled franchises.
With its head office based in Karlstad, Sweden, Embracer Group has a global presence
through its eleven operative groups: THQ Nordic, Plaion, Coffee
Stain, Amplifier Game Invest, Saber Interactive, DECA Games,
Gearbox Entertainment, Easybrain, Asmodee, Dark Horse and Embracer
Freemode. The Group has 120 internal game development studios and
is engaging more than 12,750 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.
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PR_Embracer Group
enters into an agreement to acquire Singtrix
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