The Rise and Fall of Embracer (aka THQ Nordic)

[Wirdschowerdn]

karoliner there's a rumor that they are developing a new KOTOR game.

Gearbox? I thought the rumor was Zenimax Online.

I think he meant Aspyr.

Perhaps the Kotor 1 remaster. Doubt they have the capacity and experience to make a full blown Kotor III.

 

[Infinitron]

karoliner there's a rumor that they are developing a new KOTOR game.

Gearbox? I thought the rumor was Zenimax Online.

I think he meant Aspyr.

Perhaps the Kotor 1 remaster. Doubt they have the capacity and experience to make a full blown Kotor III.

As noted by LESS T_T here: https://rpgcodex.net/forums/threads/kotor-remake-reboot-sequel-rumors.114624/page-10#post-7158824

 

[Wunderbar]

karoliner there's a rumor that they are developing a new KOTOR game.

Gearbox? I thought the rumor was Zenimax Online.

I think he meant Aspyr.

Perhaps the Kotor 1 remaster. Doubt they have the capacity and experience to make a full blown Kotor III.

there's a bunch of ex-bioware specialists working at Aspyr right now.

Spoiler

Daniel Hayden, Principal Narrative Designer

Courtney Woods, Lead Writer

Jordan Koch, Sr. World Designer

Andrew Lauretta, Animation Lead

Jason Minor, Art Director

Paul Marino, Cinematics Lead

Jamey Moulton, Sr VFX Lead

Tully Ackland, Senior Game Designer

Bret Hoffman, Principal World Designer

 

[Latelistener]

Damn Bioware is so fucked up that even guys from Austin are leaving.

I actually thought they would be capable of doing a KotOR sequel. Old Republic is an MMO, but it's much better than current Bioware Montreal games.

 

[Wirdschowerdn]

Damn Bioware is so fucked up that even guys from Austin are leaving.

I actually thought they would be capable of doing a KotOR sequel. Old Republic is an MMO, but it's much better than current Bioware Montreal games.

Wasn't Bioware Austin once trying to get a Kotor 3 greenlit but EA being EA kept saying Nein?

Oh well, where there is a will, there's a way. Away from EA and into the Embrace.

 

[Perkel]

Well all that diversity hiring showing its effect. Stunning and brave

 

[Perkel]

shit it grows like cancer. What is their final goal ? They are way past "we just want to be publisher". With so many studios and ips they can launch their own platform or store.

 

[PorkyThePaladin]

I guess we should wait for when they publish their first good or better game? KCD 2, ELEX 2 and whatever Logic Artists are working on next (Expeditions: etc studio) would be my best candidates.

 

[Infinitron]

https://www.eurogamer.net/articles/...o-gearbox-bought-by-thq-nordic-parent-company

2K will continue to publish unannounced but inevitable future entries in Gearbox's Borderlands series, it has said, even though the developer is now part of Embracer.

"As the proud publisher of the Borderlands franchise, we are happy for our partners at Gearbox and this exciting new chapter for their organisation," the company said. "The merger does not change 2K's relationship with Gearbox nor our role as the publisher for the Borderlands IP or any other projects we are currently working on with the studio. We look forward to continuing our long-term partnership with this incredibly talented team and delivering many more exciting entertainment experiences to gaming fans around the world."

 

[Infinitron]

https://www.pcgamesn.com/gearbox-new-ip

Borderlands devs plan to create new IP for a “different type of game”

After a little $1.3 billion purchase, Borderlands studio Gearbox is becoming part of Embracer Group. (You probably know Embracer better as the company formerly known as THQ Nordic, and the parent owner of the company still known as THQ Nordic.) Gearbox will continue to do what it’s been doing independently – including putting out Borderlands titles through publisher Take-Two – but it looks like they’re doubling down on original games following the buyout.

“The larger strategy is to maximise the IP that we have – there’s a huge amount of headspace there – and simultaneously to create new IP,” Gearbox boss Randy Pitchford says in a press conference. “As new IP proves itself, then our models for how to maximise become useful. We have a lot of room to maximise IP that we already have, and we have power and capability to create new IP.”

Don’t expect all of that new IP to follow the Borderlands model, though. “There’s a lot of evidence of our ability to create triple-A, premium videogames,” Pitchford says, “but we also have ambitions to explore adjacent business models, adjacent platforms, and expand territorially. And with new IP development, we also want to think about new demographics of people that might be interested in a different kind of game than Gearbox has made in the past.”

Pitchford also confirms that Borderlands is still a Gearbox-owned property, and that the studio still has “a relationship with Take-Two where we have agreed on certain rights for exploitation of the IP.” In other words, you’re still going to see the 2K branding on Borderlands games for the foreseeable future.

Gearbox’s most recent new IP, Battleborn, didn’t exactly go swimmingly – in fact, it was recently rendered completely unplayable as servers shut down.

 

[Perkel]

I guess we should wait for when they publish their first good or better game? KCD 2, ELEX 2 and whatever Logic Artists are working on next (Expeditions: etc studio) would be my best candidates.

So KCD 2 by Gearbox, Borderlands by Warhorse.

 

[PorkyThePaladin]

"but we also have ambitions to explore adjacent business models, adjacent platforms, and expand territorially. And with new IP development, we also want to think about new demographics of people that might be interested in a different kind of game than Gearbox has made in the past.”

Surely they are making a turn-based isometric RPG...

 

[Markman]

Big dick money from Lars. $1.3 billion while Take2 bought Codemasters for 1.2. Still Codemasters seems like a better deal, besides Borderlands they dont have much to write home about.
On a plus side, Embracer stock is up 25% since the purchase.

 

[Abu Antar]

Big dick money from Lars. $1.3 billion while Take2 bought Codemasters for 1.2. Still Codemasters seems like a better deal, besides Borderlands they dont have much to write home about.
On a plus side, Embracer stock is up 25% since the purchase.

Yep, I have invested in their stock, too. I'm +$5000 for now. Their expansion seems never ending. The company might implode at some point, but they are doing well for now. I'll try to hold on to it, and see if I can't hit the $10000 profit before I sell.

 

[rusty_shackleford]

shit it grows like cancer. What is their final goal ? They are way past "we just want to be publisher". With so many studios and ips they can launch their own platform or store.

World domination.

 

[LESS T_T]

Apparently THQ Nordic snatched developers from Bohemia Interactive and founded a new studio called "Ashborne Games", focus on "Simulation, Strategy and RPG genres". (They sure love RPG and strategy, eh?)

This is officially announced. They're working on a historical strategy game with RPG elements based on a new IP. https://ashbornegames.com/news/5OMqMSFqlC0stzk4QqL8W9

STUDIO'S ROOTS AND ACTIVITIES

Hello and welcome!

It's my tremendous honor to introduce Ashborne Games and talk a bit about the studio's roots, along with the projects we are currently working on. Our roots are in Brno, in the heart of South Moravia, in the Czech Republic, where we are involved in game development for several years. In October 2020, we were formed under the THQ Nordic umbrella to be a part of new endeavors. As many hands make light work, we cooperate with our THQ Nordic family from Nine Rocks Games in Bratislava to help each other follow a similar game dev path. We love everything about gaming- from talking about them to developing them. Our experience ranges across several studios and genres, including action, adventure, puzzles, and strategic genres. Titles that our members have in their portfolio include Arma, Mafia, Silent Hill: Downpour, Shadowgun: Legends, Vigor Dex and Dark Train, Fish Fillets, and the UFO trilogy.

While we have experience with various game genres and free-to-play titles on consoles and mobile, our current focus is to deliver full-length games based on the premium business model. The team has already started laying the groundwork for a brand new IP. Since the concept is still in development, we can only give you guys a hint – it's going to be a historical Strategy with RPG elements. Before we hit full steam on the new title, we'll work on supporting Comanche in its early access phase by preparing a new single-player game mode which will roll out with Update 7. We have been working with Unreal Engine 4, and we believe that thanks to our team's expertise and the engine's advantages, we will be able to deliver products that meet and exceed our ambitions as a developer.

We want to create entertainment that players love and the team can be proud of. We seek to grow the Strategy / RPG genre by crafting GAMES that are:

• Gorgeous to behold.
  
  
• Authentic to visit.
  
  
• Memorable to experience.
  
  
• Enjoyable to play.
  
  
• Supported to stay.
  

While the current Covid situation makes it challenging for our workflow and creative processes, we look forward to working out of a newly renovated office in the heart of Brno.

Even virtually, we believe in building a creative, ambitious, and family-oriented work environment. To define our company ideals and motivations, we have established the ASH codex that guides the company's growth:

• Acknowledgment of everyone's diverse interests and creativity.
  
  
• Stability of projects and their ambitions.
  
  
• Honesty towards our community and across the THQN family.
  

As of March 2021, the Ashborne Family Tree now counts 38 team members across 11 departments, and we're still growing! We are looking for a handful of key positions, so feel free to check the careers page on our website or LinkedIn if you are interested in joining our family.

You can expect more news about the team and its work in the future. We want to stay in touch with our community, and we're in the process of kicking-off communication activities across several channels. Stay updated through stories, photos, illustrations, and videos on our website, or subscribe to our newsletter for the highlights. Join a community of like-minded gamers by checking out our Facebook community and following our game developers' progress on Twitter. We want to show off our solid foundation while nurturing the growth of our studio and games. Feel free to spread the word about the Ashborne Games. We'd love to hear from you!

Stay safe and keep growing!

Petr "Pettka" Kolář, @Lathspel

Studio Manager

 

[Infinitron]

https://embracer.com/release/embrac...of-aspyr-easybrain-and-gearbox-entertainment/

EMBRACER GROUP COMPLETES THE ACQUISITIONS OF ASPYR, EASYBRAIN AND GEARBOX ENTERTAINMENT

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, SINGAPORE, HONG KONG, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES.

On February 3, 2021 Embracer Group AB (the "Company" or “Embracer Group”) and its subsidiaries entered into agreements regarding the acquisition of Aspyr, Easybrain and Gearbox Entertainment, which was announced through press releases on February 3, 2021 (the "Transactions"). The aggregated day one purchase price for the Transactions amounts to approximately SEK 9.3 billion in total, on a cash and debt free basis. Approximately SEK 2.5 billion is paid in cash and approximately SEK 6.8 billion is paid in newly issued B shares of the Company. A maximum additional consideration amounting to SEK 12.5 billion on an aggregated basis can be paid, subject to fulfilment of agreed financial and operational milestones, during a period of up to 7 years. The additional consideration comprises a maximum of approximately SEK 7.0 billion to be paid in cash and approximately SEK 5.5 billion to be paid in B shares of the Company. The price per share issued as day one purchase price and additional consideration corresponds to the volume weighted average price per Embracer B share at Nasdaq First North Growth Market during 20 trading days preceding (but not including) the date of the signing of the agreements for the Transactions, i.e., SEK 197.57 (“VWAP 20”).

All conditions for the Transactions have now been fulfilled and the Transactions are consequently completed.

Completion of the Transactions
All conditions for the Transactions, including regulatory approvals such as merger control clearance, have now been fulfilled and the Transactions are consequently completed.

The aggregate day one purchase price of approximately SEK 9.3 billion on a cash and debt free basis has today been paid through a cash payment of approximately SEK 2.5 billion and through issuance of 34,348,903 B shares, corresponding to a value of approximately SEK 6.8 billion. Furthermore, an additional 5,313,559 B shares have been issued today as part of the additional consideration, corresponding to a value of approximately SEK 1.05 billion. These additional consideration shares are subject to claw back rights and lock-up restrictions.

A maximum of 22,465,744 B shares may be issued in the future as additional consideration subject to fulfilment of certain targets. Thereby the total number of shares that can be paid as additional consideration amounts to a maximum of 27,779,303 B shares provided that all targets for payment of the additional consideration are met.

In total 39,662,462 B shares have been issued today, meaning that the number of shares in Embracer Group increases from 460,825,448 to 500,487,910 shares (divided on 33,399,137 A shares and 467,088,773 B shares), and that the number of votes increases from 761,417,681 to 801,080,143. The share issued today lead to a dilution of approximately 7.92 percent of the share capital and approximately 4.95 percent of the votes in Embracer Group based on the number of shares and votes in Embracer Group following completion of the Transactions and issuance of 39,662,462 B shares.

Through the Transactions, Embracer Group may in aggregate issue (including additional consideration shares) a total of 62,128,206 B shares, meaning that the number of shares in Embracer Group can increase from 460,825,448 to522,953,654 shares (divided on 33,399,137 A shares and 489,554,517 B shares), and that the number of votes can increase from 761,417,681 to 823,545,887.

All shares issued today and that may be issued in the future, are issued at a price of SEK 197.57 per B share, corresponding to VWAP 20.

The Transactions will, if all additional consideration shares are issued, lead to a dilution of approximately 11.88 percent of the share capital and approximately 7.54 percent of the votes in Embracer Group based on the number of shares and votes in Embracer Group following completion of the Transactions and issuance of all additional consideration shares.

The acquired companies will be consolidated into Embracer Group’s consolidated financial statements as of April 1, 2021.

For further information on the Transactions, reference is made to the press releases announced on February, 3 2021, and the presentations about the Transactions available at Embracer Group’s website.

Spoiler

Advisers
Ernst & Young AB is providing transaction support and Baker McKenzie is acting as legal counsel to Embracer in connection with the Transactions.

For more information, please contact:
Lars Wingefors, Co-founder and Group CEO Embracer Group AB (publ)
Tel: +46 708 47 19 78
E-mail: lars.wingefors@embracer.com

Beatrice Forsgren, Head of Brand and Communication Embracer Group AB (publ)
Tel: +46 704 52 57 63
E-mail: beatrice.forsgren@embracer.com

About Embracer Group:
Embracer Group is the parent company of businesses developing and publishing PC, console and mobile games for the global games market. The Group has an extensive catalogue of over 240 owned franchises, such as Saints Row, Goat Simulator, Dead Island, Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters, Satisfactory, Wreckfest, Insurgency, World War Z and Borderlands, amongst many others.

With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its eight operative groups: THQ Nordic GmbH, Koch Media GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest, Saber Interactive, DECA Games, Gearbox Entertainment and Easybrain. The Group has 63 internal game development studios and is engaging more than 7000 employees and contracted employees in more than 40 countries.

Embracer Group’s shares are publicly listed on Nasdaq First North Growth Market Stockholm under the ticker EMBRAC B with FNCA Sweden AB as its Certified Adviser; info@fnca.se +46-8-528 00 399.

Subscribe to press releases and financial information: https://embracer.com/investors/subscription/

For more information, please visit: https://www.embracer.com

Important information
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in the Company in any jurisdiction, neither from Embracer group nor from someone else.

This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the Company’s shares. Any investment decision regarding the Company’s shares must be made on the basis of all publicly available information relating to the Company and the Company’s shares. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. This announcement does not constitute a recommendation. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this announcement and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.

Forward-looking statements
This press release contains forward-looking statements that reflect the Company’s intentions, beliefs, or current expectations about and targets for the Company’s future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe”, “expect”, “anticipate”, “intend”, “may”, “plan”, “estimate”, “will”, “should”, “could”, “aim” or “might”, or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. Embracer does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither Embracer nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, unless it is not required by law or Nasdaq First North Growth Market’s rule book for issuers.

Embracer Group completes the acquisitions of Aspyr, Easybrain and Gearbox Entertainment

 

[Vormulak]

THQ Nordic is shit honestly, their soulless rehashes have made me completely lose hope for the future of the destroy all human franchise and the gothic remake.

 

[fantadomat]

THQ Nordic is shit honestly, their soulless rehashes have made me completely lose hope for the future of the destroy all human franchise and the gothic remake.

Location: USA

 

[Vormulak]

THQ Nordic is shit honestly, their soulless rehashes have made me completely lose hope for the future of the destroy all human franchise and the gothic remake.

Location: USA

What good games have they made then?

 

[fantadomat]

THQ Nordic is shit honestly, their soulless rehashes have made me completely lose hope for the future of the destroy all human franchise and the gothic remake.

Location: USA

What good games have they made then?

They make nothing,they are publishers. The had published a lot of good RPGs,like spellfroce 3,ELEX,expeditions games,dwarves,gothic and risen games and quite a few others. They are AA publisher that have a lot more interesting games than any AAA western ones. What was the last good RPG that kwan delivered?

 

[Vormulak]

THQ Nordic is shit honestly, their soulless rehashes have made me completely lose hope for the future of the destroy all human franchise and the gothic remake.

Location: USA

What good games have they made then?

They make nothing,they are publishers. The had published a lot of good RPGs,like spellfroce 3,ELEX,expeditions games,dwarves,gothic and risen games and quite a few others. They are AA publisher that have a lot more interesting games than any AAA western ones. What was the last good RPG that kwan delivered?

They had nothing to do with gothic or risen, elex was trash and im sure the rest were also trash.

 

[Mangoose]

buying up all the IPs

This is not how the free market works damnit.

 

[DeepOcean]

THQ Nordic is a smaller AA publisher, they can produce alot of shit but at least they have the chance of producing something good. Something, pretty most other publishers have zero chance in doing it.

 

[Ismaul]

elex was trash

Begone, heretic!