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Embracer Group reports game revenues increased 89%, reaching $315 million

Plans a "similar amount" of acquisitions within the next 12 months
Embracer Group reports game revenues increased 89%, reaching $315 million

Swedish games outfit Embracer Group has released its financial report for the quarter ending September 30th, 2021.

The firm reported its games operations generated $315 million, an increase of 89 per cent year-over-year.

The largest contributor to its games revenue was mobile games developer Easybrain, reporting an "all-time high" quarterly revenue of $68 million.

Embracer reported that its mobile game operations had grown by 26 per cent and saw an average of 271 million MAUs and 350 million downloads across its mobile portfolio.

Furthermore, in addition to record high quarterly revenues, Easybrain revealed that during the quarter it surpassed one billion downloads across the App Store and Google Play.

More acquisitions to come

Within the past 12 months, Embracer has made 37 acquisitions, including Easybrain, CrazyLabs, and Demiurge Studios, with CEO Lars Wingefors stating that it has been a "strategic pillar" for the group.

Across the next 12 months, Embracer has stated that it is looking to make a "similar amount" of acquisitions, continuing its aggressive M&A strategy.

"We see increasing benefits from adding new studios to our growing ecosystem," said Wingefors.

"We can create more content with a higher quality in a shorter time frame by cooperating across the Embracer network of studios and between operating groups.

Currently, Embracer Group consists of 17 publishers and 82 studios, with its headcount growing 104 per cent to now employ over 9,000 staff.

Wingefors added: "We will never force a deal for the sake of making a deal, but rather let it take adequate time. It is no different from the quality comes first approach in making games."

"We currently have a large range of active processes and dialogues, including a good number of signed exclusive term sheets."