Embracer Group acquired in online video game publishing studio Perfect World Entertainment.
Embracer Group AB, previously THQ Nordic AB, agrees with a 100% acquisition of Perfect World Entertainment. The company bought 100% shares of Perfect World North America Corporation, and Perfect World Publishing B.V.
The details of the deal so far are that it is a one-time payout of $125 million with $60 million in cash and the amount in B shares of Embracer. The purchase price net of cash totals $103 million.
Now, the PWE will continue developing and publishing games under the Embracer Group subsidiary of Gearbox Entertainment Company. The deal also resulted in an addition of 237 full-time employees including the publishing team.
Cryptic Studio’s addition will create a massive potential for Embracer Group to excel in online gaming, especially MMO’s. Cryptic Studio has an impressive track record in the niche with massive successes like Star Trek Online and Neverwinter.
However, PWE had concurred operating losses this year which resulted due to the cancellation of its newest MMO game Magic: Legends. This new agreement will provide a much-required financial boost to PWE’s projects.
Gaming News Of Video Game Consultant;
Gaming News Every day the latest video game news about the gaming industry. Video games news on NFTs (non-fungible tokens, NFT, NFT’s) , Play to Earn (P2E/Play-to-Earn), crypto games and crypto currencies, gaming guilds, Metaverse, VR, AR, AI, Virtual Worlds, Avatars, Digital Assets, In-game digital currencies, Web3 development, Blockchain based video games and its transactions and payments in the games.
Entertainment and all the big tech companies and technology behind it. Hyper Casual Games and the game studio’s that lead the way. Mobile games, PC games and Console Games and their vision on cloud gaming, streaming, esports and gamer communities. Online digital entertainment like movies, music, concerts, art and top brands such as fashion and much more that connect with video games in the metaverse.