Embracer Group, the European gaming giant that owns Borderlands studio Gearbox, THQ Nordic, Koch Media, and others, has raised around $890 million to help fund even more acquisitions.
The company said in a news release that it has issued 36 million shares to raise around SEK 7.6 billion, which works out to $890 million USD. Embracer CEO Lars Wingefors said the company is making this move to “continue our strategy in welcoming more new great companies to the group.”
The statement goes on to specifically mention that the money will be used to not only “strengthen the company’s financial position” but also to give it enough capital make more acquisitions. These acquisitions could be game studios outright like in the case of Gearbox, or the buyouts could be for various gaming-related assets or to complement its operations with publishers.
“The company is currently witnessing a growing number of potential near-term acquisition targets, which it is actively reviewing and evaluating,” the company said.
The notice did not name any of the acquisition targets by name.
Embracer has been making moves in recent years, as it acquired the US studios Gearbox and Aspyr Media in 2021 alone, with Gearbox’s deal being the biggest yet at $1.3 billion. Embracer also owns Coffee Stain, which publishes the massively successful Norse game Valheim, while it also owns Saber Interactive, the developers working on the PS5 and Xbox Series X|S editions of The Witcher 3: Wild Hunt.
Embracer says it owns 220+ franchises and 59 development studios, employing more than 5500 people across 40+ countries globally.