From Saudi Sovereign Wealth Fund
Posted by Milton Griepp on June 9, 2022 @ 3:12 am CT
Embracer announced that it was acquiring Asmodee for $3.11 billion and Dark Horse for an undisclosed price in December, and that the acquisitions had been completed in March 2022 (see "Embracer Completes Acquisition of Dark Horse, Asmodee"). The acquisition of some Square Enix assets for $300 million was announced in May (see "Embracer Acquires Square Enix Assets").
"Savvy Gaming Group’s investment of $1B enables us to continue executing our strategy proactively from a position of strength across the global gaming industry," Embracer Group CEO Lars Wingefors said of the new investment. "Our relationship with Savvy Gaming Group will enable us to set up a regional hub in Saudi Arabia, from which we will be able to make investments across the MENA region."
"This investment in Embracer Group is a starting point for a long-term commitment to the company," Savvy Gaming Group CEO Brian Ward said in a statement accompanying the announcement.
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