Vive la France! THQ Nordic is incorporating a French distribution company in order to properly “prendre pied” in France down the line.
Gate21 will enable THQ Nordic to have world-class 3D characters using most advanced character- and facial rigs in their games. Gate21 will handle rig creation, face scanning, head creation, blendshape creation and many other character-related tasks needed to bring 3D characters to life. Based in Sarajevo, Bosnia and Herzegovina, it is a step to prepare for the future of THQ Nordic as a company.
THQ Nordic GmbH acquires Charleroi (Belgium-based) Appeal Studios– the developer behind Outcast (1999). Appeals Studios S.A. (“Appeal Studios”) to become a 100% subsidiary of THQ Nordic GmbH focussing on creating an innovative Open-world Action-Adventure which has not been officially announced.
THQ Nordic GmbH acquires Frankfurt based KAIKO– the developer behind Kingdoms of Amalur Re-Reckoning and its upcoming expansion Fatesworn (among others). KAIKO to become a 100% subsidiary of THQ Nordic GmbH with focus on asset-care (remakes, remasters,) and developing new content to selected IPs.
THQ Nordic proudly announces that it is becoming a grandparent company via the acquisition of German game studio Massive Miniteam executed by its 100% subsidiary HandyGames. We are not feeling old writing this, no, YOU are old!!! Massive Miniteam is a motivated and highly creative development team working with HandyGames on several titles.
Amplifier Game Invest AB has acquired the Swedish-based studio Frame Break AB. The studio was founded in 2020 and today has a team size of 5 persons. FRAME BREAK will be developing games based on their own IP, focusing on highly replayable co-op experiences on platforms like PC and Consoles. FRAME BREAK, based in Skövde, becomes a wholly owned subsidiary of Amplifier Game Invest AB, joining the ranks of 13 other game development companies already part of the Amplifier family.
The aggregated day one purchase price for all four acquisitions amounts to approximately SEK 71 million on a cash and debt free basis. The additional aggregated consideration comprises a maximum of approximately SEK 53 million, which may be paid during a period of up to five years if certain financial milestones are met. The consideration is paid with a mix of cash and Embracer B-shares. The aggregated maximum consideration amounts to SEK 124 million.
With these transactions Embracer’s operating units – THQ Nordic and Amplifier Games Invest are making valuable bolt-on acquisitions. The group onboards more than 90 experienced and talented people, strengthens its developer footprint in Europe.
The announced acquisitions are aligned with Embracer’s growth strategy and is enabled by the group’s decentralized operating model. Over the past three years, Embracer has expanded from one to eight operating units. For Embracer’s decentralized operating model to be sustainable and scalable, it is a necessity that most acquisitions are originated and onboarded on the operating unit level. The operating model emphasizes decentralized decision-making and independence for local management. It is also necessary that founders and management of acquired companies join Embracer with a long-term mindset.
Through the Acquisitions, Embracer Group grows to 68 internal studios and more than 7,100 employees and contracted employees in more than 40 countries.