São Paulo – Savvy Gaming group, from Saudi Arabia, acquired nearly 100 million shares of the Swedish gaming company Embracer Group for USD 1.05 billion, an 8.1% stake. According to the Arab News website, the Saudi company has become Embracer’s second-biggest shareholder.
Savvy Gaming belongs to the Public Investment Fund (PIF) of Saudi Arabia and was established to develop the gaming and e-sports industry in the country. According to Arab News, the acquisition will help the Swedish company establish a regional hub in Saudi Arabia and pave the way for investments in the region. The acquired stake guarantees a weighty position in the company’s decision-making.
Embracer Group recently purchased Crystal Dynamics, Eidos Montreal, and Square Enix Montreal and already controlled THQ Nordic, Koch Media, Deep Silver, Saber Interactive, and Gearbox Software, among others. Embracer’s subsidiary studios own famous titles such as Crystal Dynamics’ Tomb Raider and Eidos Montreal’s Deus Ex.
Translated by Elúsio Brasileiro
