CEO Lars Wingefors confirmed that the aggressive will also end at the end of this month corporate restructuring plan started by Embracer Group nine months ago, which led to the cancellation of nearly 30 games, the dismissal of 1,300 people and the sale of important studios.
As reported on our pages, the last big maneuver was the sale of Gearbox, the studio behind the Borderlands series, to Take-Two for 460 million dollars, against the 1.3 billion spent by Embracer to acquire it in 2021.
Wingefors clarified to investors that the sales are overdespite the fact that other offers have already arrived from third-party companies to acquire further assets of Embracer Group.
“We are finishing the restructuring program at the end of March and the Gearbox restructuring process was part of that program,” the CEO said. “Now we are contacted, I would say not exactly on a daily basis, but on a weekly basis, by companies that would like to acquire some of the group's activities. I have been very clear on the fact that they are not for sale because they are a very important part of the group and the group's shareholders for the future.”
The acquisitions will not start again
Lars Wingefors
Wingefors also added that although the renovation process is over, for obvious reasons at the moment no acquisitions are planned and that it is still too early to talk about it, with Embracer Group first intending to reorganize itself and set precise objectives for the future.
“As far as further mergers and acquisitions are concerned, I think it is too early to talk about it. We are now in the advanced stage of thinking about the future of the group, and this is our goal and our priority: how we organize and structure ourselves, how we use the resources that we have within the group and how we make them work together, and how we make better use of them by working together, using different functions, I think this is our goal right now, to increase profitability and flow generation cash, simply making better products and games.“