It was just revealed that amidst Embracer Group’s ongoing overhaul and restructuring, Saber Interactive will be sold to a group of investors in a deal worth a reported $500 million. This will lead Saber Interactive to become a privately owned company, and so far, it’s the largest step that Embracer has taken to cut costs across the board in an ongoing efficiency initiative.
Saber Cutting Free
As reported by Bloomberg’s Jason Schreier, the Embracer Group is preparing to bid farewell to Saber Interactive, the ongoing developer of the Knights of the Old Republic Remake and past developer of games like World War Z and Snowrunner. This move will allow the 3,500-strong company to operate as a privately owned brand away from Embracer Group.
In 2020, the Embracer Group bought Saber Interactive in a deal with $525 million. As a result of the global financial struggles being witnessed across the industry, the Group seems willing to sell Saber Interactive at a loss to recoup some much-needed finances.
In the Bloomberg report, it was referenced that the $500 million sum includes ‘an option for Saberr to bring along multiple Embracer subsidiaries’, but it’s not known what that includes.
For more Insider Gaming coverage, check out the news that Firesprite was accused of a toxic working environment
