Embracer Group has emerged as Europe’s most valuable video game developer thanks to a spending spree that included 27 acquisitions over the past year.
The video game holding company reached a market value of $13 billion, surpassing its France’s Ubisoft, according to Bloomberg.
The Sweden-based group has been particularly busy in the first half of 2021.
- Embracer completed its acquisition of Gearbox Software — which makes the smash hit “Borderlands” — in an April deal worth up to $1.3 billion.
- It agreed to acquire development studios Kaiko, Appeal Studios, Massive Miniteam, and Frame Break in May for approximately $8.25 million.
- Founder Lars Wingefors increased his stake to 28.4%, amounting to $2.4 billion, up from $1.4 billion a year ago.
Embracer plans to list on a major index like Nasdaq Stockholm to raise more capital and continue its takeover.
The company generated $1.33 billion in sales in fiscal Q4 2021, an 80% increase year-over-year. Full-year sales reached $5.24 billion, a 72% uptick compared to FY2020.