Embracer Group has sold mobile studio Easybrain to Miniclip for $1.2 billion.
The Swedish conglomerate said the move will transform its financial position and drive value. The all-cash transaction is expected to take place early next year.
"Easybrain has been an important part of the Embracer family for over three years, contributing to strong value creation during this time," said Embracer CEO Lars Wingefors in a note to investors. "As Easybrain’s market is transforming, Miniclip is the right strategic buyer to enable the company to stay at the forefront of the ad-driven mobile game industry."
Miniclip CEO Saad Choudri said the addition of evergreen Easybrain franchises such as Sudoku.com will help the company engage a "broad audience of players."
"The combination of Miniclip and Easybrain brings us closer to our vision of unleashing the gamer in everyone," he added.
Embracer has divested a number of key assets in 2024, including Saber Interactive and Gearbox Entertainment.
Those deals came with Embracer frantically searching for fiscal stability following years of rampant spending. After splashing heaps of cash on a barrage of mergers and acquisitions, Embracer attempted to course correct by enacting a restructuring program that resulted in mass layoffs, game cancellations, and studio closures.
During the previous fiscal year, Embracer reduced its headcount by 4,532 employees and canceled 80 game projects.
More recently, the company split its business into three separate publicly listed entities to search for "distinct winning formulas in specific market segments." It also secured a €600 million revolving credit facility in July to strengthen its financial structure and, in the words of Wingefors, become a "leaner, more focused company."
You May Also Like
