The restructuring at Embracer Group has been completed, but no new studios will be purchased any time soon.
As is the case across the entire video game industry, numerous jobs have been lost at the Embracer Group studios in recent months. Over 1,300 jobs were cut, almost 30 games were discontinued, and many studios closed. The sale of Gearbox has now also been completed – this brought in $460 million for the Embracer Group. The Borderlands studio is now based at Take-Two.
According to CEO Lars Wingefors, the restructuring within the Embracer Group to save money has now been completed, but when asked at an investor conference whether they were thinking about buying new studios, he said no. According to Wingefors, it is simply too early to start thinking about takeovers and mergers again.
We are currently in the final phase of considering what direction the group should take in the future. We want to concentrate on that now because it is a priority. That’s why it’s best to first increase profitability and cash flow by simply bringing better products and games onto the market.
As Wingefors explains, the sale of Gearbox was also the last. The aim is to reduce the risk as a company and at the same time become more profitable.
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