Embracer - M&A Summary and Business Overview

Digital MediaCompany

Embracer M&A Summary

Embracer has acquired 9 companies, including 5 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 1 asset.

Embracer’s largest acquisition to date was in 2021, when it acquired Asmodee Group for $2.8B. It’s largest disclosed sale occurred in 2024, when it sold Gearbox Software to Take-Two Interactive Software for $460M. Embracer has acquired in 6 countries. The Company’s most targeted sectors include digital media (89%) and software (12%).

Embracer Business Overview

Where is Embracer headquartered?

Embracer is headquartered in Karlstad, Sweden.

What is Embracer’s revenue?

Embracer disclosed revenue of 22,370M SEK for 2025 and 27,409M SEK for 2024.

How many employees does Embracer have?

Embracer has 5,097 employees.

What sector is Embracer in?

Embracer is a digital media company.

When was Embracer founded?

Embracer was founded in 1999.

M&A Summary

  • M&A Total Activity10
    • M&A Buy Activity9
    • M&A Sell Activity1
  • Total Sectors Invested 2
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 2
  • M&A Advisors 3

Embracer

Embracer Group AB

Tullhusgatan 1B,
Karlstad, 652 09
Sweden,
+46 54 53 56 00
www.embracer.com

Embracer is a developer and publisher of video games. The core portfolio comprises products and brands which have been acquired from various parties (THQ, Atari, and others), and further acquisitions of IPs and trademarks will follow. Embracer was founded in 1999 and is based in Karlstad, Sweden.


M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.2/yr) # 8 1 - - - - 9
vol $9M $2.8B $2.8B
Sell (0.2/yr) # - - - - 1 - 1
vol $460M $460M
  10

Most Recent M&A

Company Date Value Type
Gearbox Software LLC 2024-03-27 460M USD Divestiture
Frisco, Texas · www.gearboxsoftware.com
Asmodee Group 2021-12-15 2.8B USD Add-on Acquisition
Guyancourt, France · www.asmodee.com
ZEN Stúdió Kft 2020-11-18 - Add-on Acquisition
Budapest, Hungary · www.zenstudios.com
Snapshot Games, Inc. 2020-11-18 - Add-on Acquisition
Sofia, Bulgaria · www.snapshotgames.com
Coffee Stain North AB 2020-11-18 - Add-on Acquisition
Skovde, Sweden · www.coffeestainstudios.com
Quantic Lab SRL 2020-11-18 - Add-on Acquisition
Cluj-Napoca, Romania · www.quanticlab.com
handy-games.com GmbH 2018-07-09 - Add-on Acquisition
Giebelstadt, Germany · www.handy-games.com
Experiment 101 AB 2017-11-17 9M SEK Add-on Acquisition
Stockholm, Sweden · www.experiment101.com
Pieces Interactive AB 2017-08-28 - Add-on Acquisition
Skövde, Sweden · www.piecesinteractive.se
Black Forest Games GmbH 2017-08-21 - Add-on Acquisition
Offenburg, Germany · black-forest-games.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Digital Media 8 (89%) 2.8B (100%) - -
Software 1 (11%) - - -
Media - - 1 (100%) 460M (100%)
Total 9 $2.8B 1 $460M

By Geo

State/Country Buy Value Sell Value
Sweden 3 9M - -
Germany 2 - - -
Bulgaria 1 - - -
France 1 2.8B - -
Hungary 1 - - -
Romania 1 - - -
United States - - 1 460M
  Texas - - 1 460M
Domestic 3 (33%) 9M (< 1%) - -
Cross-border 6 (67%) 2.8B (100%) 1 (100%) 460M (100%)
Total 9 $2.8B 1 $460M

Top M&A Advisors

Financial Deals
Ernst & Young Capital Advisors
3
HSBC Global Banking and Markets
1
Legal Deals
Baker & McKenzie
3

Deal Values

buy # Total
> $1B 1 $2.8B
< $100M 1 $9M
TOTAL $2.8B
Largest Asmodee Group
$2.8B (2021-12-15)
sell # Total
$100M to $1B 1 $460M
TOTAL $460M
Largest Gearbox Software LLC
$460M (2024-03-27)

M&A Connections

Deals
Acquired from
Investor(s)
11%
1 (11%)
Divested to
Strategic(s)
100%
1 (100%)

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