Saudi Arabian prince invests $1 billion into Embracer Group

Embracer Group gets a huge $1 billion investment from Saudi Arabia's Public Investment Fund, will use proceeds for acquisitions.

@DeekeTweak
Published Jun 8, 2022 4:08 PM CDT   |   Updated Thu, Jun 30 2022 3:32 PM CDT

Saudi Arabian prince Mohammed bin Salman has invested $1 billion into Embracer Group's video games business.

Saudi Arabian prince invests $1 billion into Embracer Group 1 | TweakTown.com

Savvy Gaming, which is run by the Saudi Arabia's Public Investment Fund, just purchased a $1 billion worth of Embracer Group shares. The PIF purchased over 99 million class B shares and Savvy Gaming Group is now a long-term shareholder. Embracer says it will use the proceeds to "continue executing its successful acquisition strategy."

Embracer Group is one of the largest and most diverse games companies on the market, with access to over 200 IPs and franchises and a multitude of developers, projects, and media platforms including board games and video distribution. The Saudi PIF has billion-dollar investments in major games companies including Capcom, Take-Two Interactive, and Nexon. It recently purchased $3 billion worth of Nintendo shares.

"Embracer is comprised of passionate people and entrepreneurs with ambitious long-term visions. Our decentralized operating model empowers people, fosters autonomy and speed, and creates sustainable organic synergies across the group ecosystem. Our strategy includes having a diverse range of forward-looking shareholders who support our long-term business plans.

"Savvy Gaming Group's investment of $1B enables us to continue executing our strategy proactively from a position of strength across the global gaming industry. Over the past few years, Saudi-based entities have become one of the most significant investors in the global gaming market, and the games market in MENA is one of the world's fastest growing, with $5.7B in 2021 revenues and more active gamers than either the US or Western Europe.

"The largest country in this market, by far, is Saudi Arabia, and having visited Saudi Arabia, I have seen the gaming community and the opportunities firsthand. Our relationship with Savvy Gaming Group will enable us to set up a regional hub in Saudi Arabia, from which we will be able to make investments across the MENA region, either organically, via partnerships, joint ventures, or via acquisitions of companies led by strong entrepreneurs."

--Lars Wingefors, Founder and Group CEO of Embracer Group

"Savvy Gaming Group has committed to invest heavily in the games and esports industry and to materially strengthen the global games community. This investment in Embracer Group is a starting point for a long-term commitment to the company.

"The Embracer team has built a truly unique and leading ecosystem of entrepreneurs and creators at a scale which we believe will continue to generate enormous value for the games community in the coming years. We are very much looking forward to strengthening our relationship and supporting Embracer as they execute on their global strategy."

-- Brian Ward, CEO of Savvy Gaming Group

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NEWS SOURCE:embracer.com

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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