Apparently, Embracer Group has set its eyes for more acquisitions down the road after it agreed to buy Gearbox Entertainment for $1.3 billion in February this year.
The Sweden-based parent company of THQ Nordic and Koch Media is set to raise more than $890 million after issuing 36 million new Class B shares values at SEK 210 ($24.71) per share.
According to the company, the proceeding will be used to “further strengthen the company’s financial position and, of course, continue its ongoing acquisition strategy.”
The company also revealed that it is in the process of evaluating several companies that could potentially become its acquisition targets.
Embracer Group currently owns 59 studios and more than 220 franchises. Those figures are likely to rise in the near future after the publishing company announced that it is actively considering acquiring new developers, publishers, and ‘other assets.’
“We are delighted that the interest in Embracer Group has proven to be outstanding among both investors,” said Embracer CEO Lars Wingefors. “This capital injection of SEK 7.6 billion enables us to continue our strategy in welcoming more new great companies to the group.”
The newly issued shares are primarily directed towards Swedish and international investors, including CPP Investments, AMF Pension, Alecta, and Swedbank Robur. Embracer stated that the demand for the new shares is ‘significant.’
Embracer’s most recent mergers and acquisitions include Borderlands developer Gearbox Entertainment, mobile game publisher Easybrain, US-based studio Aspyr Media. The company invested just over $2 billion for all three acquisitions. Among them, Gearbox Entertainment has been Embracer’s biggest takeover to date—worth $1.3 billion.
“Gearbox is arguably one of the most creative and valuable independent developers in the world. We believe that the resources offered by Embracer will position Gearbox for significant growth in the years to come,” commented Wingefors in a statement.
In addition to these three acquisitions, Embracer also announced that it had bought 12 development studios as well as a PR and influencer relations firm back in November last year.
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