Troubled video game publisher Embracer has announced the sale of more of its assets – this time, large portions of Saber Interactive, for the price of $247m.
In a financial call this morning, Embracer said the sale means it will cease all operations in Russia, something that will help it “reduce [its] geopolitical risk” – though the buyer, a company named Beacon Interactive, is founded by Saber Interactive co-founder Matthew Karch.
Karch will now lead Saber’s studios separately from Embracer, though in a statement said he would remain “a large, long-term shareholder of Embracer” who will continue to partner with the company on “several ongoing and future projects”. In the financial call, Embracer boss Lars Wingefors noted Karch would not retain any management or board position at Embracer, however.
In terms of actual studios, today’s announcement will see Embracer sell off all Saber Interactive-branded studios, plus New World Interactive, Nimble Giant Entertainment, 3D Realms, Slipgate Ironworks, Mad Head Games, Fractured Byte and Sandbox Strategies. Several of these studios announced layoffs in recent months.