THQ Nordic parent Embracer raises $890 million to finance more acquisitions

THQ Nordic parent company Embracer Group has raised $890 million through a new share issue.

The Swedish outfit issued 36 million new Class B shares to raise the cash, which will be used to finance more acquisitions. 

The news comes shortly after Embracer purchased Borderlands developer Gearbox in a $1.38 billion deal, adding to a list of internal studios that includes Deep Silver, Saber Interactive, Coffee Stain Studios, and THQ Nordic. 

Embracer currently owns 59 studios and over 220 franchises, and looks set to add to that already mammoth roster in the future. 

"We are delighted that the interest in Embracer Group has proven to be outstanding among both Swedish and international institutional investors," said Embracer CEO and co-founder, Lars Wingefors. "This capital injection [...] enables us to continue our strategy in welcoming more new great companies to the group."