Embracer Group

Swedish video game holding companyTemplate:SHORTDESC:Swedish video game holding company[[Category:**Lua error in package.lua at line 80: module 'Module:Pagetype/config' not found.**s with short description]]

Template:Use British English
Template:Use dmy dates

* Pelle Lundborg
* Lars Wingefors (CEO)
* Erik Stenberg (deputy CEO)

**Embracer Group AB** (formerly **Nordic Games Publishing AB** and **THQ Nordic AB**) is a Swedish video game holding company based in Karlstad. The company was established under the name Nordic Games in December 2008, forming the video game publishing subsidiary of game retailer Game Outlet Europe. Co-founders include chief executive officer and Game Outlet Europe founder Lars Wingefors, Pelle Lundborg, and Nik Blower. In 2011, Nordic Games established a second office, Nordic Games GmbH, in Vienna, Austria, and soon shifted its publishing operations to the new office.

In August 2016, Nordic Games, together with its Viennese office, was renamed THQ Nordic, using the "THQ" trademark that it had acquired in 2014, and in November 2016, the company became a public company listed on Nasdaq First North. Throughout 2018, THQ Nordic acquired Koch Media Holding (parent of Koch Media) and Coffee Stain Holding (parent of Coffee Stain Studios), both of which operate independently under THQ Nordic, complementary to THQ Nordic GmbH.

To avoid confusion with THQ Nordic GmbH and to clarify its position as a holding company, THQ Nordic AB was renamed Embracer Group in September 2019, while THQ Nordic retained its name.

## History

### The original Nordic Games (1990s–2004)

At an early age, Swedish entrepreneur Lars Wingefors began successfully selling a diverse range of products, including Christmas magazines and plastic bags, and when he was 13 years old, he founded LW Comics, a company that sold second-hand comic books. He established the business as a mail order company using a 2,000-entry customer register he had acquired from another, defunct mail order company. The company made close to Template:SEK annually. At age 16, Wingefors established a second company, Nordic Games, which did the same as LW Comics, though with used video games instead of comics. In its first year, the company generated Template:SEK in revenue. With growing income throughout the 1990s, Nordic Games was turned into a retail chain—in the same vein as British video game retail company Game—and opened seven stores across Sweden. The company also acquired Spel- & Tele shopen, a game shop in Linköping, Sweden, that had been founded by Pelle Lundborg four years prior.

Towards the end of the 1990s, Nordic Games was suffering from a poor corporate structure, and Wingefors was asked to either seek new partners or bring in venture capital, though he instead opted to sell the company to Gameplay Stockholm, the Swedish subsidiary of Europe-wide retailer Gameplay.com, in March 2000 for Gameplay.com stock valued at Template:GBP. Under Gameplay, Nordic Games failed to generate much revenue; the company tried to establish mobile game, digital distribution and cable TV box businesses, all of which did not gain traction. When the dot-com bubble burst, Gameplay faced financial issues, and Nordic Games was sold back to Wingefors in May 2001 for a symbolic sum of Template:SEK (at the time equivalent to Template:GBP). Wingefors brought in venture capitalists and reformed the company to only sell newly released games, but the company faced strong competition and finally filed for bankruptcy in 2004.

### The new Nordic Games (2004–2011)

 File:Nordic Games logo 2008.svg
Wingefors invested the money he had left into a new limited company and, together with potential customers acting as investors, reformed Nordic Games under the name Game Outlet Europe. The new company saw success with purchasing unsold stock from larger video game companies, such as Electronic Arts, repackaging them on pallets in its Karlstad headquarters, and selling them on the international market and through other retail chains, such as Jula, Coop and ICA. In December 2008, a new company with the name Nordic Games was established as the video game publishing subsidiary of Game Outlet Europe. The subsidiary started out with seven people, including Wingefors—as primary shareholder—based at the company's headquarters in Karlstad, Lundborg—as chief executive officer—based in Malaga, Spain, and Nik Blower, based in London, England.

The idea behind the new Nordic Games was to invest in the development of games that would fill gaps in the video game market; Wingefors and Lundborg had noticed that the line-up of games for Nintendo platforms was lacking karaoke games similar to *SingStar*, which was exclusive to PlayStation consoles. Based on 100-page requirement documents from Nintendo, which included that the game's microphones should be produced by Logitech, and four months of research at a karaoke bar in Watford, England, Nordic Games assembled a song list for the game and started producing what would later become *We Sing*. Around this time, Nordic Games also released *Dance Party Club Hits*, a dance game that came packaged with a dancing mat. In 2009, Nordic Games had a turnover of Template:SEK, of which 75% were accounted for by *We Sing*Template:'s sales. For 2010, the company projected a turnover of Template:SEK, while at the same time, Lundborg was looking for new investors in the company to make it independent from Game Outlet Europe. By March 2011, Nordic Games Holding had been established as a holding company, with Game Outlet Europe and Nordic Games aligned as its subsidiaries.

### International expansion (2011–present)

In June 2011, Nordic Games Holding acquired the assets of insolvent publisher JoWooD Entertainment and its subsidiaries. The acquired assets were transferred to Nordic Games GmbH, a subsidiary office of Nordic Games that had been established in Vienna, Austria, earlier that year. Several former JoWooD employees were hired by Nordic Games GmbH to work on backlog sales of former JoWooD properties, and the publishing team from Nordic Games was soon integrated into Nordic Games GmbH to facilitate operations. In April 2013, Nordic Games Licensing, on behalf of Nordic Games Holding (now renamed Nordic Games Group), acquired many assets of bankrupt publisher THQ, all of which were again moved to Nordic Games GmbH.

In June 2014, Nordic Games acquired the "THQ" trademark, intending to use the name as a publishing label for its THQ properties. In August 2016, Nordic Games announced that both itself and its Viennese subsidiary had been renamed as THQ Nordic (as THQ Nordic AB and THQ Nordic GmbH, respectively). According to Wingefors and THQ Nordic GmbH's Reinhard Pollice, the name change was undergone to capitalise on the good reputation of THQ's past, although they avoided naming the companies just "THQ" to avoid connections to THQ's more recent, troubled history being made. On 22 November 2016, THQ Nordic undertook its initial public offering and became a public company listed on the Nasdaq First North stock exchange, being valuated at Template:SEK, while Wingefors retained a 50% ownership in the company.

In February 2018, THQ Nordic acquired Koch Media Holding, the parent company of Austrian media company Koch Media, which in turn owned and operated the Deep Silver video game label, for Template:€. Koch Media was set to operate independently under THQ Nordic, separate from THQ Nordic GmbH. To better reflect its holding function and to avoid confusion between THQ Nordic and its Viennese office, THQ Nordic stated that it planned to rename itself. In June 2018, the company issued 7.7 million new Class B shares to raise $168 million, which would be used for future acquisitions. In November 2018, THQ Nordic acquired Coffee Stain Holding, the Swedish holding company that houses developer Coffee Stain Studios and affiliated companies, for Template:SEK in cash consideration. Coffee Stain became THQ Nordic's "third leg", operating independently like Koch Media. Through the two acquisitions and continued sales from THQ Nordic GmbH, THQ Nordic's net sales rose by 713%, to US$447.6 million, in the 2018 fiscal year. In December 2018, gaming business website *GamesIndustry.biz* named Wingefors as one of their People of the Year 2018. In February 2019, THQ Nordic issued 11 million new Class B shares, raising Template:SEK ($225 million).

At the end of its first fiscal quarter of 2019, THQ Nordic acquired Game Outlet Europe from Nordic Games Group for Template:SEK. In August 2019, the company acquired investment company Goodbye Kansas Game Invest (GKGI) for Template:SEK. GKGI held minority investments in five startup developers—Palindrome Interactive, Fall Damage, Neon Giant, Kavalri Games and Framebunker—as well as royalty rights to the THQ Nordic GmbH-published *Biomutant*. GKGI's investments in Bearded Dragons, Goodbye Kansas VR and IGDB were retained by its previous parent company, Goodbye Kansas. GKGI had been founded in 2016 and by the time of the acquisition had four full-time employees. To avoid further confusion with THQ Nordic GmbH and clarify its position as a holding company, THQ Nordic assumed the name "Embracer Group" at its annual general meeting on 17 September 2019, while the branch in Vienna retained its name. In December 2019, the company, through GKGI, acquired Swedish developer Tarsier Studios for Template:SEK. The deal included the studio's 65 employees and intellectual property, excluding *Little Nightmares* and *The Stretchers*, which remained with their respective owners.

GKGI was rebranded Amplifier Game Invest in January 2020 to better reflects its new ownership under Embracer Group. That same month, Amplifier opened River End Games, in Gothenburg, Sweden, and C77 Entertainment in Seattle, United States; two development studios, each with veterans from game studios of the respective areas. Embracer acquired Saber Interactive and its five internal studios in February 2020 for a total of Template:USD, making Saber the fifth direct subsidiary of Embracer.

## Subsidiaries

As of February 2020, Embracer Group has five major subsidaries consisting of 26 distinct studios with a total of about 3100 employees.

## References

1. ↑ 1.0 1.1 1.2 1.3 "Board and Management". https://embracer.com/governance/board-management/.
2. ↑ 2.0 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 Wingefors, Lars (27 August 2019). "THQ Nordic Annual Report 2018/19". https://mb.cision.com/Main/15049/2890795/1096896.pdf.
3. ↑ 3.00 3.01 3.02 3.03 3.04 3.05 3.06 3.07 3.08 3.09 3.10 3.11 3.12 Mellwing, Daniel (1 March 2011). "Han är superentreprenören från Karlstad" (in sv). https://www.entreprenor.se/entreprenorer/han-ar-superentreprenoren-fran-karlstad\_500484.html.
4. ↑ 4.0 4.1 "Dansk arbetsrätt ett föredöme" (in sv). 9 August 2011. https://www.svensktnaringsliv.se/regioner/varmland/dansk-arbetsratt-ett-foredome\_558890.html.
5. ↑ 5.0 5.1 5.2 5.3 5.4 5.5 5.6 5.7 Åkerberg, Nina (28 November 2009). "Svensk tar sig ton i spelvärlden" (in sv). https://www.di.se/artiklar/2009/11/28/svensk-tar-sig-ton-i-spelvarlden/.
6. ↑ This Is Money (3 April 2000). "Gameplay.com buys Nordic Games". https://www.thisismoney.co.uk/money/news/article-1571447/Gameplaycom-buys-Nordic-Games.html.
7. ↑ Connell, James (16 May 2001). "Tech Brief:GAME OVER". https://www.nytimes.com/2001/05/16/business/worldbusiness/IHT-tech-briefgame-over.html.
8. ↑ Richardson, Tom (17 May 2001). "Gameplay division sold for £1". https://www.theregister.co.uk/2001/05/17/gameplay\_division\_sold/.
9. ↑ 9.0 9.1 Batchelor, James (6 December 2018). "People of the Year 2018: Lars Wingefors". https://www.gamesindustry.biz/articles/2018-12-06-people-of-the-year-2018-lars-wingefors.
10. ↑ Martin, Matt (16 August 2011). "Nordic Games acquires JoWood and The Adventure Company". https://www.gamesindustry.biz/articles/2011-08-16-nordic-games-acquires-jowood-and-the-adventure-company.
11. ↑ Leo, Jon (17 August 2011). "Nordic Games Holding acquires JoWood and The Adventure Company". https://www.gamespot.com/articles/nordic-games-holding-acquires-jowood-and-the-adventure-company/1100-6329512/.
12. ↑ Cifaldi, Frank (16 August 2011). "Nordic Games Saves JoWood From Insolvency With Acquisition". https://www.gamasutra.com/view/news/126563/Nordic\_Games\_Saves\_JoWood\_From\_Insolvency\_With\_Acquisition.php.
13. ↑ "Group History". Archived from the original on 31 July 2016. https://web.archive.org/web/20160731025931/http://www.nordicgamesgroup.com/about.
14. ↑ Tach, Dave (22 April 2013). "Who is Nordic Games?". https://www.polygon.com/2013/4/22/4254224/nordic-games-thq-purchase.
15. ↑ 15.0 15.1 15.2 Frank, Allegra (16 August 2016). "THQ Nordic is ready to prove itself after a big name change". https://www.polygon.com/2016/8/16/12500550/thq-nordic-nordic-games-thq-bankruptcy.
16. ↑ Samavati, Shaheen (23 November 2016). "THQ Nordic valuation grows to €190 million after IPO on Nasdaq First North". https://tech.eu/brief/thq-nordic-ipo/.
17. ↑ 17.0 17.1 17.2 "Analyse: Was THQ Nordic mit Koch Media vor hat" (in de). 15 February 2018. https://www.gameswirtschaft.de/wirtschaft/thq-nordic-koch-media-analyse-februar-2018/.
18. ↑ Kidwell, Emma (14 June 2018). "THQ Nordic raises $168 million for future acquisitions". https://gamasutra.com/view/news/320017/THQ\_Nordic\_raises\_168\_million\_for\_future\_acquisitions.php.
19. ↑ 19.0 19.1 Romano, Sal (14 November 2018). "THQ Nordic acquires Bugbear Entertainment and Coffee Stain Studios". https://gematsu.com/2018/11/thq-nordic-acquires-bugbear-entertainment-and-coffee-stain-studios.
20. ↑ Batchelor, James (13 February 2019). "THQ Nordic net sales rose 713% to $447.6m in 2018". https://www.gamesindustry.biz/articles/2019-02-13-thq-nordic-net-sales-rose-713-percent-to-usd447-6m-in-2018.
21. ↑ Batchelor, James (21 February 2019). "THQ Nordic raises $225m for further acquisitions". https://www.gamesindustry.biz/articles/2019-02-21-thq-nordic-raises-usd225m-for-further-acquisitions.
22. ↑ "THQ Nordic AB (publ) Reg No.: 556582-6558 Interim Report 1 • 1 April – 30 June 2019". 14 August 2019. https://mb.cision.com/Main/15049/2880582/1089677.pdf.
23. ↑ 23.0 23.1 23.2 Handrahan, Matthew (14 August 2019). "THQ Nordic strengthens portfolio with Goodbye Kansas Game Invest acquisition". https://www.gamesindustry.biz/articles/2019-08-14-thq-nordic-strengthens-portfolio-with-goodbye-kansas-game-invest-acquisition.
24. ↑ "THQ Nordic AB (publ) acquires Goodbye Kansas Game Invest". 14 August 2019. https://embracer.com/wp-content/uploads/2019/09/Investor-presentation-THQ-Nordic-AB-acquires-Goodbye-Kansas-Game-Invest.pdf.
25. ↑ Romano, Sal (14 August 2019). "THQ Nordic to change parent company group name to Embracer Group". https://gematsu.com/2019/08/thq-nordic-to-change-parent-company-group-name-to-embracer-group.
26. ↑ "THQ Nordic becomes Embracer Group". 17 September 2019. https://embracer.com/wp-content/uploads/2019/09/Embracer\_AGM-presentation\_190917\_webb.pdf.
27. ↑ Batchelor, James (20 December 2019). "Embracer Group acquires Little Nightmares dev Tarsier Studios for $10.5m". https://www.gamesindustry.biz/articles/2019-12-20-embracer-group-acquires-little-nightmares-dev-tarsier-studios-for-usd10-5m.
28. ↑ Taylor, Haydn (15 January 2020). "Goodbye Kansas Game Invest re-brands as Amplifier Game Invest". https://www.gamesindustry.biz/articles/2020-01-15-goodbye-kansas-game-invest-re-brands-as-amplifier-game-invest.
29. ↑ Batchelor, James (24 January 2020). "Amplifier Game Invest opened new development studio in Sweden". https://www.gamesindustry.biz/articles/2020-01-24-amplifier-game-invest-opens-new-development-studio-in-sweden.
30. ↑ Taylor, Haydn (30 January 2020). "Amplifier Game Invest opens Seattle studio". https://www.gamesindustry.biz/articles/2020-01-24-amplifier-game-invest-opens-new-development-studio-in-sweden.
31. ↑ 31.0 31.1 31.2 Taylor, Haydn (19 February 2020). "Embracer Group acquires Saber Interactive in $525m deal". *GamesIndustry.biz*. https://www.gamesindustry.biz/articles/2020-02-19-embracer-group-acquires-saber-interactive-in-usd525m-deal. Retrieved 19 February 2020.
32. ↑ Batchelor, James (19 February 2020). "THQ Nordic parent Embracer Group now has 26 studios, more to be announced". *GamesIndustry.biz*. https://www.gamesindustry.biz/articles/2020-02-19-thq-nordic-parent-embracer-group-now-has-26-studios-more-to-be-announced. Retrieved 19 February 2020.
33. ↑ "Embracer Group subsidiary Amplifier Game Invest expands to North America, establishes a new Seattle Studio: C77 Entertainment". https://embracer.com/release/embracer-group-subsidiary-amplifier-game-invest-expands-to-north-america-establishes-a-new-seattle-studio-c77-entertainment/.
34. ↑ "Embracer Group AB (publ) Reg No.: 556582-6558 Interim Report 3 • October – December 2019". 19 February 2020. https://mb.cision.com/Main/15049/3038896/1196454.pdf.
35. ↑ "Embracer Group subsidiary Amplifier Game Invest establishes a new game development studio: River End Games". https://embracer.com/release/embracer-group-subsidiary-amplifier-game-invest-establishes-a-new-game-development-studio-river-end-games/.
36. ↑ "Embracer Group acquires critically acclaimed Tarsier Studios". https://embracer.com/release/embracer-group-acquires-critically-acclaimed-tarsier-studios/.
37. ↑ 37.0 37.1 37.2 37.3 Kerr, Chris. "THQ Nordic acquires Coffee Stain and Bugbear Entertainment" (in en). https://www.gamasutra.com/view/news/330658/THQ\_Nordic\_acquires\_Coffee\_Stain\_and\_Bugbear\_Entertainment.php.
38. ↑ 38.0 38.1 38.2 "THQ Nordic completes the acquisition of Koch Media GmbH". https://embracer.com/release/thq-nordic-completes-the-acquisition-of-koch-media-gmbh/.
39. ↑ "THQ Nordic completes the acquisition of Milestone". https://embracer.com/release/thq-nordic-completes-the-acquisition-of-milestone/.
40. ↑ "THQ Nordic completes the acquisition Warhorse Studios". https://embracer.com/release/thq-nordic-completes-the-acquisition-warhorse-studios/.
41. ↑ "Embracer Group publishes Interim Report Q3, October-December 2019: OPERATIONAL EBIT INCREASED 54% TO SEK 302 MILLION". 19 February 2020. https://embracer.com/release/embracer-group-publishes-interim-report-q3-october-december-2019-operational-ebit-increased-54-to-sek-302-million/. Retrieved 19 February 2020.
42. ↑ "THQ Nordic acquires Black Forest Games" (in en). https://www.gamesindustry.biz/articles/2017-08-21-thq-nordic-acquires-black-forest-games.
43. ↑ "Biomutant developer Experiment 101 acquired by THQ Nordic" (in en). https://www.gamesindustry.biz/articles/2017-11-17-biomutant-developer-experiment-101-acquired-by-thq-nordic.
44. ↑ "Grimlore Games founded by Nordic Games, new studio | GameWatcher" (in en). https://www.gamewatcher.com/news/2014-24-11-grimlore-games-founded-by-nordic-games-new-studio-focuses-on-spellforce-3.
45. ↑ "THQ Nordic acquires Gunfire Games" (in en-US). 2019-08-14. https://www.gematsu.com/2019/08/thq-nordic-acquires-gunfire-games.
46. ↑ "THQ Nordic acquires the German game developer and publisher HandyGames". https://embracer.com/release/thq-nordic-acquires-the-german-game-developer-and-publisher-handygames/.
47. ↑ "THQ Nordic opens Slovakian studio Nine Rocks Games" (in english). https://www.destructoid.com/thq-nordic-opens-slovakian-studio-nine-rocks-games-580316.phtml.
48. ↑ Novac, Dragos. "THQ Nordic buys Pieces Interactive, one of the veteran Swedish gaming companies, for $350k" (in en). https://nordic9.com/news/thq-nordic-buys-pieces-interactive-one-of-the-veteran-swedish-gaming-companies-for-350k-news2030848553/.
49. ↑ "THQ Nordic acquires Gothic developer Piranha Bytes" (in en). https://www.gamesindustry.biz/articles/2019-05-22-thq-nordic-acquires-gothic-developer-piranha-bytes.
50. ↑ "Nordic bringing back MX vs. ATV" (in en). https://www.gamesindustry.biz/articles/2013-12-20-nordic-bringing-back-mx-vs-atv.
51. ↑ Wilson, Mike (2019-12-15). "THQ Nordic Releases Playable Teaser For Potential Remake of ‘Gothic’" (in en-US). https://bloody-disgusting.com/video-games/3597839/thq-nordic-releases-playable-teaser-potential-remake-gothic/.
52. ↑ "Press releases - Is it a Gothic Remake? Not yet, but it can become one: THQ Nordic releases playable prototype on Steam, asks for the player's opinion". 13 December 2019. https://www.gamasutra.com/view/pressreleases/355697/Is\_it\_a\_Gothic\_Remake\_Not\_yet\_but\_it\_can\_become\_one\_THQ\_Nordic\_releases\_playable\_prototype\_on\_Steam\_asks\_for\_the\_players\_opinion.php. Retrieved 17 February 2020.

## External links

* Template:Official website

Template:Embracer Group