Embracer Group signed acquisition agreements with eight different game studios today. In the press release published by Embracer, the purchased studios are listed as CrazyLabs, Ghost Ship Games, Easy Trigger, Force Field, DigixArt, Slipgate Ironworks, 3D Realms, and Grimfrost.
The deals will strengthen Embracer’s capabilities in mobile publishing and development, indie development, VR development, and other development for story-driven, retro shooters and PC/consoles. The acquired studios are expected to contribute approximately SEK 2-3 billion ($232-348 million) to Embracer’s net sales in the next fiscal year ending March 31, 2023. Accordingly, Embracer also stated in its press release that CrazyLabs will be the studio that will contribute the most.
Lars Wingefors, Co-Founder and CEO of Embracer, made the following comments:
“I am excited to welcome more than 500 great talents across a wide range of established businesses that have further diversified and strengthened the Embracer Group worldwide from day one. We continue to develop our operational groups and thus Embracer as a whole. We still have a strong balance sheet with a large net cash position to support more mergers and acquisitions going forward. We continue to have many ongoing conversations with entrepreneurs, creators, and companies to join the family, including large or transformative companies that will form new business groups. Embracer Group in the coming years both organically and organically. I look forward to continuing to grow as well as inorganically.”
CrazyLabs will bring the most profit
With CrazyLabs announcing its acquisition of Firescore just a day ago, this big deal seems to have become quite surprising and exciting for the gaming industry.
According to the Embracer Group’s official press release statements, Deca Games has merged with CrazyLabs in free-to-play games to form a fast-growing, process-oriented, data-driven organization in the casual and hyper-casual segments of the mobile market.
Accordingly, CrazyLabs is the only mobile game studio acquired in bulk. Over the course of 2020, the Israel-based studio’s hyper-casual games have reached over 480 million downloads and already have over 4.5 billion lifetime downloads as some of the achievements worthy of this purchase.
CrazyLabs CEO, Sagi Schliesser, commented:
“In these exciting times for mobile gaming, we are extremely happy to join forces with the entire Embracer family and especially the DECA Group.”