Embracer Group Has Sold Saber Interactive for Nearly $250M

Recently it has been alleged that Kissing Group was looking to part ways with Saber Interactive, leaving the studio's future uncertain. Earlier today, the parent company announced that it was officially selling the developer.

Also cessation of operations in Russia

In a recent Press release, Embracer Group said it has now “entered into an agreement to divest a selection of assets”, with notable reference to Sabre. The development team is being sold for a purchase price of 247 million US dollars. Of this amount, $44 million includes “liabilities assumed for price supplements”.

In addition, Embracer is also ceasing its activities in Russia through its sale. The company's CEO, Lars Wingefors, says he is “pleased to have found a win-win solution for Embracer and the parts of Saber that will now leave us.”

As for who bought the studio, the press release indicates that it now passes into the hands of Beacon Interactive, a company controlled by Matthew Karch, co-founder of Saber Interactive. The shutdown of operations in Russia, coupled with the separation from the developer of Evil Dead: The Game, is an attempt to improve cash flow within the Embracer Group.

What this means in terms of Saber projects is unclear at this time. While the team was working on a remake of Knights of the Old Republic, there were fears that the project had been abandoned since Embracer announced that it might sell the studio. However, it is possible that KOTOR will continue to move forward, according to the latest news.

Kissing Group is a huge holding company that owns a number of major video game companies, including THQ Nordic, Gearbox, and Coffee Stain Studios.