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.
PWE is one of the most significant names in online video game publishing, for both PC and console in North America and Europe.
The company is behind famous Hollywood movie franchise games like Star Trek. Moreover, it is also famous for Dungeons and Dragons and Magic: The Gathering.
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.
The PWE Publishing, and Cryptic Studios will work independently under Gearbox Entertainment which will add impetus to the Gearbox Entertainment Publishing division.
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.
The concurrent user base of its games is also strong and engaging. The studio has a total of 136 employees.
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.
Embracer will also achieve a much-needed strategic value with a new IP and a strong and promising MMO capability which it lacked previously.
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