Embracer's wide-reaching focus now includes the full spectrum of entertainment film, TV, console games, PC games, mobile games, and virtual reality.
With its recent acquisition of Vertigo Games, the Embracer Group (formerly THQ Nordic) pushes into VR and solidifies its diversified approach to gaming. Embracer bought VR games publisher Vertigo Games for 50 million Euros, with a 40 million Euro upfront cash payment and 10 million Euros in B stock. Vertigo can also earn up to 65 million Euros in bonuses across a 10-year period.
This acquisition represents tremendous potential for Embracer, and exposes their forward-thinking approach. VR is still a fledgling platform, however it was Embracer's missing puzzle piece. Vertigo Games is known for VR games like A Fisherman's Tale, After the Fall, Arizona Sunshine, and Skyworld. The company employs 50 people in the Netherlands, and 37 of them are developers.
This follows other strategic acquisitions like mobile expert DECA Games, and TV studio Solas Media. It's clear Embracer is trying to cover all the bases.
Vertigo's buyout comes after Embracer's record Q2 performance of $172 million, and raises its IP count to beyond the 190 properties it owned as of Q3'20.
Embracer confirms that Vertigo Games will be nestled under its Koch Media branch, the parent company of the Deep Silver label. Here's a breakdown of Embracer's current business structure:
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