Embracer Group raises $164 million in investment

Will be used for acquisitions and expansion

Embracer Group raises $164 million in investment

THQ Nordic's parent company Embracer Group has raised $164 million through investment.

More than 100 companies around the world have invested in the company. Investors included Swedbank Robur, Odin Fonder, TIN Fonder and First National AP Fund.

The funds will be used to make further acquisitions and expansions. In February, the THQ Nordic owners snapped up Saber Interactive in a deal worth $525 million.

Last December, the firm also acquired Swedish independent developer Tarsier Studios – best known for Little Nightmares.

Pandemic challenges

As with many other companies, Embracer is facing challenges due to the coronavirus pandemic. So far, the impact on the company has been "limited."

"The COVID-19 crisis challenges us all. I am truly impressed and thankful to all our hardworking employees around the world, committed to keeping our business going in these challenging times," said Embracer Group CEO and co-founder Lars Wingefors.

"The health of our employees is very important to me, and it is my number one priority. While the economic turmoil will affect all businesses, including ours, the games industry is in a solid-state due to the fact that our products and services entertain people at home.

"I want you to know the group stands on a solid financial position with a healthy cash position."

Staff Writer

Kayleigh is the Staff Writer for Besides PGbiz and PCGI she has written as a list writer for Game Rant, rambling about any and all things games related. You can also find her on Twitter talking utter nonsense.