Swedish
gaming
conglomerate
Embracer
Group
announced
plans
on
Monday
to
split
itself
into
three
distinct
games
and
entertainment
companies:
Asmodee
Group,
Coffee
Stain
&
Friends,
and
Middle-earth
Enterprises
&
Friends.
These
will
be
separate,
publicly
listed
companies,
according
to
Embracer’,
which
says
the
move
will
allow
“each
entity
to
better
focus
on
their
respective
core
strategies
and
offer
more
differentiated
and
distinct
equity
stories
for
existing
and
new
shareholders.”
“This
move
towards
three
independent
companies
reinforces
Embracer’s
vision
of
backing
entrepreneurs
and
creators
with
a
long-term
mindset,”
says
Lars
Wingefors,
co-founder
and
Embracer
Group
CEO,
“allowing
them
to
continue
to
deliver
unforgettable
experiences
for
gamers
and
fans
across
the
globe.”
Embracer
has
been
aggressively
“restructuring”
since
losing
out
on
a
$2
billion
partnership
deal
last
year
Embracer
Group,
which
is
known
for
acquiring
the
rights
to
a
dizzying
number
of
franchises
like
Tomb
Raider
and
Lord
of
the
Rings,
has
been
aggressively
“restructuring”
since
losing
out
on
a
$2
billion
partnership
deal
last
year.
Since
then,
the
company
has
shut
down
several
projects
and
studios,
laid
off
employees
globally,
and
sold
Borderlands
developer
Gearbox
to
Take-Two
for
a
fraction
of
the
$1.3
billion
it
was
valued
at
when
it
was
purchased
three
years
ago.
The
three
new
companies
will
be
broken
down
as
follows:
“This
move
has
been
made
with
the
intention
to
unleash
the
full
potential
of
each
team
and
provide
them
with
their
own
leadership
and
strategic
direction,”
said
Wingefors.
“This
is
the
start
of
a
new
chapter,
a
chapter
that
I
intend
to
remain
part
of
as
an
active,
committed,
and
supportive
shareholder
of
all
three
new
entities,
with
an
evergreen
horizon.”
Original author: Jess Weatherbed
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