Saber Interactive buys itself back from Embracer for $500M; Gearbox sale looms

Saber Interactive will soon be free of Embracer Group thanks to a private investor group coughing up $500 million for the outfit. There is also a new report stating the mega company has a buyer lined up for Gearbox Software.

Concerning the Saber Interactive deal, a Bloomberg source familiar with the matter said that once inked, the firm would become a privately owned company retaining close to 3,500 employees.

Saber will also continue development on its Star Wars: The Knights of the Old Republic remake, which it took over from Aspyr Media in 2022, and this year it is set to release Expeditions: A Mudrunner Game, John Carpenter’s Toxic Commando, and Warhammer 40,000: Space Marine 2.

Saber Interactive was acquired by Embracer Group in 2020 for $525 million.

As for Gearbox Entertainment, a Kotaku report states a deal to sell the operating division is in the late stages of being finalized. Embracer didn’t respond when asked for comment. Kotaku had better luck reaching out to Gearbox CEO and co-founder Randy Pitchford, who happily responded to the query in a very Pitchford-like manner.

Reuters reported in September 2023 that Gearbox was potentially on the market after being acquired by Embracer for $1.4 billion one year and seven months prior.

Embracer went on a buying spree over the last few years, picking up studios and parent companies left and right.

Founded by Swedish entrepreneur Lars Wingefors, Embracer Group started life as Nordic Games and went through a few changes over the years before purchasing development studios JoWood, The Adventure Company, and Dreamcatcher Interactive in 2011. It acquired several THQ assets after the latter went bankrupt in 2013, purchased the THQ trademark the following year, and in 2016 was renamed THQ Nordic. It went public in 2016 and was renamed Embracer Group in 2019.

Since 2018, the company has acquired Koch Media which owned and operated Deep Silver, Coffee Stain Studios, Dark Horse Media, Gearbox Entertainment (but not the Borderlands IP), Saber Interactive, Middle-earth Enterprises, Perfect World Entertainment, Cryptic Studios, Limited Run Games, Tripwire Interactive, and too many more to mention. It also acquired Crystal Dynamics, Eidos-Montreal, and Square Enix Montreal (which it would later shutter) from Square Enix along with 50 of the latter’s IP which included Tomb Raider, Deus Ex, Thief, and Legacy of Kain.

Since June 2023, the company has been undergoing a comprehensive restructuring program, resulting in layoffs, the closing of studios, and the termination of projects after a $2 billion investment deal fell through with Saudi Arabia firm Savvy Games Group.

As of September 2023, Embracer Group owned 129 game development studios and employed around 15,000 people working out of 40 countries. If you want an idea of how many mergers and acquisitions have occurred, Wikipedia has compiled a very thorough list. For a look at owned IP, there’s a list for that too, and here’s one listing both subsidiaries and acquisitions.