Embattled publisher Embracer sells off Saber assets, withdraws from Russia
Buyer founded by Saber boss.
Troubled video game publisher Embracer has announced the sale of more of its assets - this time, large portions of Saber Interactive, for the price of $247m.
In a financial call this morning, Embracer said the sale means it will cease all operations in Russia, something that will help it "reduce [its] geopolitical risk" - though the buyer, a company named Beacon Interactive, is founded by Saber Interactive co-founder Matthew Karch.
In terms of actual studios, the deal will see Embracer sell off all Saber Interactive-branded studios, plus New World Interactive, Nimble Giant Entertainment, 3D Realms, Slipgate Ironworks, Mad Head Games, Fractured Byte and Sandbox Strategies.
Newscast: Why are there so many games industry layoffs? Embracer will retain Aspyr, TripWire, Beamdog, Tuxedo Labs, Demiurge, Shiver, Snapshot Games and 34 Big Things.
The sale will reduce Embracer's debt by 2.1bn Swedish kroner, or around £160m.
After a huge acquisition spree, Embracer has subsequently shed thousands of staff and numerous development studios over the past year as it struggles to balance the books - it says, after a major investment fell through.
More to follow.