# List of mergers and acquisitions by Embracer Group

Embracer Group is a Swedish video game holding company controlled by Lars Wingefors. In 2016, the company was spun out of Nordic Games Group and in 2019 it was renamed Embracer Group.
As of 2024 they own more than 106 internal studios in over 45 countries in Europe and the Americas. Its subsidiaries are organized under ten groups: Amplifier Game Invest, Asmodee, CDE Entertainment, Coffee Stain Holding, Dark Horse Media, DECA Games, Easybrain, Embracer Freemode, Plaion and THQ Nordic. Each group has its own operations, subsidiaries and development studios.

## Acquisitions

| Date | Company | Country | Parent company | Value |
| August 2017 | Black Forest Games | Germany | THQ Nordic | €1,360,000 |
| August 2017 | Pieces Interactive | Sweden | THQ Nordic | $350,000 |
| November 2017 | Experiment 101 | Sweden | THQ Nordic | $8,900,000 |
| February 2018 | Koch Media Dambuster Studios Fishlabs Volition | Austria/ Germany  United Kingdom  Germany  United States | Plaion | $149,000,000 |
| July 2018 | HandyGames | Germany | THQ Nordic | |
| November 2018 | Coffee Stain Holding Coffee Stain Studios Coffee Stain North (60%) Ghost Ship Games (35%) Lavapotion (60%) Other Tales Interactive (20%) | Sweden  Sweden  Sweden  Denmark  Sweden  Denmark | Coffee Stain Holding | $34,900,000 |
| November 2018 | Bugbear Entertainment (90%) | Finland | THQ Nordic | |
| February 2019 | 18Point2 | Australia | Plaion | €1,900,000 |
| February 2019 | Warhorse Studios | Czech Republic | Plaion | €42,800,000 |
| May 2019 | Piranha Bytes | Germany | THQ Nordic | |
| August 2019 | KSM | Germany | Plaion | |
| August 2019 | Gaya Entertainment | Germany | Plaion | |
| August 2019 | Milestone | Italy | Plaion | €44,900,000 |
| August 2019 | Gunfire Games | United States | THQ Nordic | |
| August 2019 | Goodbye Kansas Game Invest Fall Damage (50%) Framebunker (21%) Kavalri (21%) Neon Giant (24%) Palindrome Interactive (50%) | Sweden  Sweden  Denmark  Sweden  Sweden  Sweden | Amplifier Game Invest | $3,950,000 |
| December 2019 | Tarsier Studios | Sweden | Amplifier Game Invest | $10,500,000 |
| February 2020 | Saber Interactive Saber Belarus Saber Porto Saber Russia Saber Spain Saber Sweden | United States  Belarus  Portugal  Russia  Spain  Sweden | Saber Interactive | $525,000,000 |
| February 2020 | Voxler | France | Plaion | €1,900,000 |
| May 2020 | DestinyBit | Italy | Amplifier Game Invest | |
| August 2020 | 4A Games | Malta/ Ukraine | Saber Interactive | $45,000,000 |
| August 2020 | New World Interactive | United States | Saber Interactive | |
| August 2020 | Rare Earth Games | Austria | Amplifier Game Invest | €3,300,000 |
| August 2020 | Vermila Studios | Spain | Amplifier Game Invest | €900,000 |
| August 2020 | Palindrome Interactive (remaining 50%) | Sweden | Amplifier Game Invest | |
| August 2020 | Pow Wow Entertainment | Austria | THQ Nordic | |
| August 2020 | DECA Games | Germany | DECA Games | €25,000,000 |
| August 2020 | Sola Media | Germany | Plaion | $2,700,000 |
| September 2020 | Vertigo Games | Netherlands | Plaion | €50,000,000 |
| November 2020 | Flying Wild Hog | Poland | Plaion | $137,000,000 |
| November 2020 | Purple Lamp Studios | Austria | THQ Nordic | |
| November 2020 | Zen Studios | Hungary | Saber Interactive | |
| November 2020 | Snapshot Games | Bulgaria | Saber Interactive | |
| November 2020 | Nimble Giant Entertainment | Argentina | Saber Interactive | |
| November 2020 | 34BigThings | Italy | Saber Interactive | |
| November 2020 | Mad Head Games | Serbia | Saber Interactive | |
| November 2020 | Sandbox Strategies | United States | Saber Interactive | |
| November 2020 | A Thinking Ape Entertainment | Canada | DECA Games | $31,000,000 |
| November 2020 | IUGO Mobile Entertainment | Canada | DECA Games | |
| November 2020 | Coffee Stain North (remaining 40%) | Sweden | Coffee Stain Holding | |
| November 2020 | Silent Games | United Kingdom | Amplifier Game Invest | |
| November 2020 | Quantic Lab (95%) | Romania | Amplifier Game Invest | €4,500,000 |
| February 2021 | Gearbox Software Gearbox Studio Québec | United States  Canada | Gearbox Software | $1,300,000,000 |
| February 2021 | Easybrain | Cyprus/ Belarus | Easybrain | $640,000,000 |
| February 2021 | Aspyr | United States | Saber Interactive | $450,000,000 |
| February 2021 | SpringboardVR | United States | Plaion | |
| May 2021 | Kaiko | Germany | THQ Nordic | |
| May 2021 | Massive Miniteam | Germany | THQ Nordic | |
| May 2021 | Appeal | Belgium | THQ Nordic | |
| May 2021 | Frame Break | Sweden | Amplifier Game Invest | |
| August 2021 | 3D Realms | Denmark/ United States | Saber Interactive | |
| August 2021 | Slipgate Ironworks | Denmark | Saber Interactive | |
| August 2021 | CrazyLabs | Israel | DECA Games | |
| August 2021 | DigixArt | France | Plaion | |
| August 2021 | Force Field | Netherlands | Plaion | |
| August 2021 | Ghost Ship Games (remaining 65%) | Denmark | Coffee Stain Holding | |
| August 2021 | Easy Trigger | Sweden | Coffee Stain Holding | |
| August 2021 | Grimfrost (70%) | Sweden | THQ Nordic | |
| August 2021 | Demiurge Studios | United States | Saber Interactive | |
| August 2021 | Fractured Byte | Estonia | Saber Interactive | |
| August 2021 | SmartPhone Labs | Russia | Saber Interactive | |
| September 2021 | Bytex | Russia | Saber Interactive | |
| October 2021 | Jufeng Studio | China | DECA Games | |
| October 2021 | Splatter Connect | United Kingdom | Plaion | |
| December 2021 | Asmodee Atomic Mass Games Bezzerwizzer Studio Catan Studio Days of Wonder Edge Entertainment Fantasy Flight Games Gamegenic The Green Board Game Company Libellud Lookout Games Mixlore Pearl Games Plan B Games Purple Brain Rebel Studio Repos Production Space Cow Space Cowboys Unexpected Games Z-Man Games Zygomatic | France  United States  Denmark  United States  France  Spain  United States  Germany  United Kingdom  France  Germany  France  Belgium  Canada/ Germany  France  Poland  Belgium  France  France  United States  United States  France | Asmodee | €2,750,000,000 |
| December 2021 | Green Tile Digital | Sweden | Amplifier Game Invest | |
| December 2021 | Perfect World Entertainment Cryptic Studios | China  United States | Gearbox Software | $125,000,000 |
| December 2021 | Spotfilm Networkx | Germany | Plaion | |
| December 2021 | Shiver Entertainment | United States | Saber Interactive | |
| December 2021 | Digic Holdings Digic Pictures Digic Services | Hungary  Hungary  Hungary | Saber Interactive | |
| December 2021 | Dark Horse Media Berger Books (50%) Dark Horse Comics Dark Horse Entertainment Dark Horse Games Dark Horse Manga DH Press Kitchen Sink Books (50%) Things From Another World | United States  United States  United States  United States  United States  United States  United States  United States  United States | Dark Horse Media | |
| February 2022 | A Creative Endeavour | Sweden | Amplifier Game Invest | |
| February 2022 | Metricminds | Germany | THQ Nordic | |
| March 2022 | Development Plus Inc. | United States | Plaion | |
| March 2022 | Invisible Walls | Denmark | Amplifier Game Invest | |
| April 2022 | Beamdog | Canada | Saber Interactive | |
| April 2022 | Lost Boys Interactive | United States | Gearbox Software | |
| May 2022 | Assets of Square Enix Europe Crystal Dynamics Eidos-Montréal Square Enix Montréal | United States  Canada  Canada | CDE Entertainment | $300,000,000 |
| August 2022 | Tripwire Interactive | United States | Saber Interactive | |
| August 2022 | Tuxedo Labs | Sweden | Saber Interactive | |
| August 2022 | Middle-earth Enterprises | United States | Embracer Freemode | |
| August 2022 | Limited Run Games | United States | Embracer Freemode | |
| August 2022 | Bitwave Games | Sweden | Embracer Freemode | |
| August 2022 | Gioteck | United Kingdom | Embracer Freemode | |
| August 2022 | Singtrix | United States | Embracer Freemode | |
| August 2022 | Tatsujin | Japan | Embracer Freemode | |
| October 2022 | Anime Limited | United Kingdom / France | Plaion Pictures | |
| October 2022 | VR Distribution | Australia / United Kingdom | Asmodee | |
| January 2023 | Captured Dimensions | United States | Gearbox Software | |

## Divestitures

| Date | Company | Operative group | Buyer | Price |
| November 2019 | Foxglove Studios | THQ Nordic | Management buyout | |
| July 2023 | Goose Byte | Amplifier Game Invest | Management buyout | |
| October 2023 | Fall Damage | Amplifier Game Invest | Fragbite | $1,800,000 |
| November 2023 | River End Games | Amplifier Game Invest | Nordcurrent | |
| February 2024 | Saber Interactive 3D Realms Digic Pictures Fractured Byte Mad Head Games New World Interactive Nimble Giant Entertainment Sandbox Strategies SmartPhone Labs Slipgate Ironworks Stuntworks | Saber Interactive | Beacon Interactive | $247,000,000 |
| March 2024 | Gearbox Software | Gearbox Entertainment | Take-Two Interactive | $460,000,000 |
| March 2024 | Rainbow Studios | THQ Nordic | Management buyout | |
| May 2024 | Shiver Entertainment | Saber Interactive | Nintendo | |
| November 2024 | Easybrain | Easybrain | Miniclip | $1,200,000,000 |