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June 9, 2022

Embracer has received a $1 billion investment from Saudi Arabia's Savvy Gaming Group – Bestgamingpro

An investing company based in Saudi Arabia has invested heavily in Embracer. Embracer acquired 99.9 million B-shares for $1 billion from Saudi Arabia's Public Investment Fund (PIF). An 8.1% interest in the Swedish video gaming and media holding business is being given away.

CEO Brian Ward said, “Savvy Gaming Group is committed to investing extensively in the games and esports sector and to materially boost the worldwide games community. A long-term commitment to Embracer Group will begin with this investment.

Saudi Arabia's PIF has had an eventful first half of 2022. ESL and Face It were bought by Savvy Gaming Group earlier this year for $1.5 billion. In addition, the PIF allegedly paid over $1 billion for holdings totaling more than 5 percent in Capcom and Nexon.

According to Embracer Group CEO Lars Wingefors, the $1 billion investment from Savvy Gaming Group allows the company to continue executing its plan from a strong position in the global gaming sector. MENA's games business is one of the fastest growing in the world, with $5.7 billion in sales and more active gamers than either the United States or Western Europe, and Saudi-based corporations have become one of the most major investors in the global gaming sector over the last several years.”

For the last several years, Embracer Group has been on a purchasing frenzy, acquiring many significant studios. THQ Nordic and Gearbox Entertainment are among the firms that have been purchased. The media conglomerate will be able to expand a little further with this investment.

As of this writing, Embracer has 120 gaming studios under its control and 230 projects in the works.

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