Embracer Group AB and its subsidiaries have entered into 13 acquisition agreements for the aggregated day one purchase price of approximately SEK 2.0 billion on a cash and debt free basis. Through the acquisitions, Embracer Group grows to 58 internal studios, more than 5,700 employees and contracted employees in more than 45 countries. Baker McKenzie acted as the legal advisor in 11 of these acquisitions.
Embracer Group is the parent company of businesses developing and publishing PC, console and mobile games for the global games market.
The acquired businesses are, during the financial year ending 31 March 2022, expected to contribute to Embracer Group's net sales in the range of SEK 850-1,050 million, as well as increasing the company with more than 1,250 new employees. In most of the transactions, earn-outs and management incentives over 5-10 years, have been put in place to ensure long term alignment with the founders and management teams joining Embracer Group.
Baker McKenzie is legal advisor to Embracer Group in the acquisitions of Flying Wild Hogs, Snapshot Games, 34BigThings, A Thinking Ape, IUGO, Zen Studios, Nimble Giant Entertainment, Coffee Stain North, Sandbox Strategies, Quantic Labs and Silent Games.
Baker McKenzie's team consisted of among others Anna Orlander, Joakim Falkner, Ian Gulam, Erik Holmgren and Maja Uppgren from the Stockholm office and a team of colleagues and specialists from Baker McKenzie's offices in other countries including among others the US, Canada, UK, Poland, Italy, Argentina, Germany and Hungary.
Baker McKenzie's global video games industry team advises on a wide range of national and cross-border transactions in the video games industry.