Tarsier was founded 2005 in Karlshamn, has 15 years of experience from games development and is one of the largest independent studios in Sweden. Today the studio is based in Malmö, has 65 employees and is led by an experienced team with award-winning creative and artistic world class skills.
Tarsier focuses on developing AA(A)/III (Tripple-i) adventure games and platform puzzles to primarily PC and consol. Over the years, the company has worked primarily as a work-for-hire studio together with global publishing powerhouses such as Nintendo, Sony Interactive and Bandai Namco. The studio has also been successful in developing new original IPs such as Little Nightmares, Statik and Stretchers from concept, through the development phase and to commercial release. The Little Nightmares IP is owned by Bandai Namco, the Statik IP is owned by Tarsier and the Stretchers IP is owned by Nintendo.
Tarsier is most famous for the critically acclaimed million-selling franchise Little Nightmares (2017), where Tarsier developed the IP from scratch and released it together with Bandai Namco on PlayStation, XBOX ONE, PC and Nintendo Switch. At Gamescom in August 2019, they announced the sequel Little Nightmares 2, planned to be released during 2020 together with Bandai Namco.
Embracer has a firm confidence in the competence and knowledge that has been accumulated in Tarsier during its 15 years in the games business and is looking forward to supporting the Studio with long-term investments into new IP development. The Studio will remain autonomous within Embracer’s wholly owned sub-group Goodbye Kansas Game Invest. Embracer and Goodbye Kansas Game Invest will act as owner, financier and publisher of the new IPs to be developed. Tarsier and Embracer is committed to completing ongoing development projects financed by external parties such as Little Nightmares 2, published by Bandai Namco.
"We at Embracer are impressed with the position and the team that Tarsier has built up during 15 years, which is evident looking at the fantastic reviews that several of the studio’s famous productions have received, and with the future ambitions of the Studio. Together with Tarsier, we want to invest in developing new projects, in the same manner they have done successfully in the past. We look forward to, together with management and all of Tarsier’s employees, embrace the quality and creativity the Studio has, and take the Studio to the next level", says Lars Wingefors, co-founder and group CEO, Embracer Group AB.
"It feels exciting to, after a 15-year long journey with Tarsier, partner up with Embracer to continue develop the potential that our Studio has. We look forward to the opportunity to continue making exceptionally great games together with Embracer Group", says Andreas Johnsson, Studio Head, Tarsier Studios.
The purchase price will be financed by Embracer’s existing cash and by issuing new B-shares in Embracer Group AB, in accordance with authorization from the AGM. The newly issued class B shares are issued to five of the sellers of Tarsier Studios. The price per share is based on the volume-weighted average price of Embracer Group's shares on Nasdaq First North Growth Market during the twenty (20) trade days preceding 20 December 2019 (i.e. 19 December 2019), i.e. SEK 67.91. Following the issue of shares, the number of shares increase in total by 162,163 to 312,067,198 and the number of votes increase with 162,163 to 554,905,035 (divided between 27,000,000 A shares and 285,067,198 B shares). The share capital increases with in total approximately SEK 450 from approximately SEK 866,403 to approximately SEK 866,853. The newly issued shares will represent 0.05 percent and 0.03 percent of the total number of shares and votes in the Company, respectively, on a fully diluted basis.
In addition to the purchase price, certain sellers are entitled to a 10 year earn-out payment, subject to fulfilment of specific financial metrics, with a cap of SEK 44 million. The transaction is not subject to any further resolution or approval and the record date is December 20, 2019.