Embracer Team: Meet the corporate that now owns Tomb Raider (and nearly one thousand franchises)


With over 120 in-house studios, 230 video games in building, and a whopping 850 IP pool, Embracer Team has quietly change into one of the vital greatest names in video video games. The corporate, which calls itself “a dad or mum corporate of entrepreneur-led companies in PC, console, cell, and tabletop gaming, and different comparable media,” lately bought a handful of studios and IPs from Sq. Enix, together with Crystal Dynamics/Tomb Raider, Eidos-Montreal/Deux Ex, and Hitman Cross developer Sq. Enix Montreal.

Because the Embracer Team continues its enlargement, many avid gamers are questioning: what precisely is Embracer Team and what does it do with a lot of these recreation franchises?

To reply to that query, we’ve got summarized the thirty years of historical past of Embracer Team in a digestible chronologyexplaining how the corporate got here to be and cataloging its rising record of building studios and recreation franchises.

What’s Embracer Team?

Embracer Team is a Swedish protecting corporate, this is, a trade that doesn’t produce items or products and services itself, however owns different companies that do. In relation to Embracer, it owns 10 such firms (ie running teams): THQ Nordic, Koch Media, Espresso Stain, Amplifier Recreation Make investments, Saber Interactive, DECA Video games, Gearbox Leisure, Easybrain, Asmodee, and Darkish Horse. The ten firms function a variable selection of companies and/or studios, they all underneath the Embracer Team umbrella.

To enlarge at the much-used circle of relatives metaphor, Embracer is the dad or mum corporate of Koch Media and Saber Interactiveso it may well be thought to be the dad or mum corporate of builders like Volition (Saints Row) and 4A video games (Metro), that are owned by means of Koch and Saber, respectively.

How did Embracer move from being a slightly unknown corporate to an international gaming powerhouse? It began slightly humble, in 1990, when a tender guy of 13, Lars Wingefors (founder and present CEO of Embracer), began promoting used comics. In ’93, Wingefors was once within the trade of shopping for and promoting used video video games, and by means of 2000 he was once “working Sweden’s biggest impartial recreation trade,” in keeping with the Embracer website online.

Wingefors would reconfigure its trade a number of instances during the early 2000s, culminating within the transition from promoting video games to publishing as Nordic Video games. The corporate says that the present iteration of Embracer Team started “for actual” with the purchase of writer JoWood Leisure in 2011, even though its upward push to public awareness is absolute best positioned in 2013, when it received Darksiders, Purple Faction and Wreck All People from a THQ bankrupt.

The chapter of THQ performed an important position in the upward push of Embracer; the corporate no longer simplest bought the aforementioned THQ franchises, however later purchased the THQ trademark. In 2016 Nordic Video games was once renamed THQ Nordic to make the most of the larger logo popularity. In 2019, the corporate modified its logo for the closing time, adopting the Embracer Team moniker to constitute its undertaking: “Include nice firms, nice other people and nice concepts.”

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Along with a various portfolio of recreation and IP studios, Embracer owns some very well known names within the box of board video games (Catan Studio – Catan, Z-Guy Video games – Pandemic) and the comics (Darkish Horse – Hellboy, The Umbrella Academy).

Main acquisitions of Embracer Team

Embracer Team’s present acquisition streak started in 2018 with the acquisition of Koch Media for 9 figureseven though, as has already been stated, it began purchasing recreation franchises within the early 2010s.

Under we’ve got compiled a timeline of Embracer’s maximum essential purchases. Taking into account the selection of acquisitions Embracer has made within the closing decade, we have now not noted lesser-known studios and IPs from this record, in addition to maximum cell and tabletop recreation builders.


In 2013, Embracer (then running as Nordic Video games) made its first main acquisition, comprando Darksiders, Purple Faction, MX vs. ATV, Wreck All People and different IPs for $4.9 million to a bankrupt THQ.


After a couple of quieter years, Embracer received the German developer Black Woodland Video games and its IPs (Giana Sisters, Helldorado and Rogue Stormers) for about a million bucks. Black Woodland is now operating on a Wreck All People 2 remake, after freeing a remake of the primary recreation within the collection in 2020.

Every week later, Embracer received Items Interactive, creators of Magicka and Titan Quest, for round $350,000. The studio has been quiet because it launched its 3rd Titan Quest enlargement in 2019.

Embracer’s 3rd and closing acquisition in 2017 was once the BioMutant developer, Experiment 101, for approximately 9 million bucks. As a part of the acquisition, Embracer additionally become the landlord of BioMutant’s IP, which it deliberate to show “into one of the vital [sus] main franchises.” Then again, after an extended building, the motion RPG was once launched in 2021 to combined evaluations.


Embracer’s first nine-figure acquisition got here in early 2018, when it purchased Koch Media/Deep Silver for 150 million bucks. As a part of the deal, Embracer become the landlord of Dambuster Studios (Useless Island 2, Homefront: The Revolution), Fish Labs (Refrain), and Volition (Saints Row, Purple Faction).

The corporate endured with this huge acquire obtaining two IPs (Timesplitters y Kingdom of Amalur) for undisclosed quantities. The chic Timesplitters first-person shooter collection was once created by means of Unfastened Radical Design, which might move directly to change into Crytek UK in 2009 ahead of folding into Deep Silver Dambuster in 2019. Then again, in 2021, studio founders Steve Ellis and David Doak they reformed Unfastened Radical to create a brand new Timesplitters. Kingdom of Amalur, in the meantime, was once remastered in 2020 as Kingdom of Amalur: Re-Reckoning.

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Embracer then received Espresso Stain for approximately 34.7 million bucks. The corporate become a part of Embracer in conjunction with the Goat Simulator and Enough IPs. Espresso Stain is now one in all Embracer’s 10 running teams, in conjunction with Koch Media, THQ Nordic and Gearbox, amongst others. The corporate additionally printed the 2021 PC hit Valheim, although developer Iron Gate Studio stays impartial.

The similar day that Embracer received Espresso Stain, it purchased Bugbear Leisurethe Wreckfest racing-focused studio, for an undisclosed quantity.


Embracer’s first acquisition in 2019 was once the $37.5 million acquire of Warhorse Studios, the developer studio of the RPG Kingdom Come: Deliverance. Warhorse is now operating with Saber Interactive, some other corporate owned by means of Embracer, on a Transfer port of Kingdom Come.

ELEX 2 developer, Piranha Bytes, was once received by means of Embracer in Might for an undisclosed quantity. As a part of the deal, Embracer additionally bought the Gothic and Risen IPs.

Due to this fact, Embracer expanded its racing portfolio with the acquisition of Milestone for $50 million in 2019. The Italian developer lately launched the very good Scorching Wheels Unleashed in 2021. Its different racing sagas come with MotoGP, Experience, and Monster Power Supercross.

Six years after obtaining the Darksiders highbrow belongings, Embracer purchased the present developer of the saga, Gunfire Video games, for an undisclosed quantity. With the exception of the Darksiders saga, Gunfire discovered luck with its Darkish Souls-inspired shooter, Remnant: From the Ashes.

Little Nightmares developer studio, Tarsier Studio, was once the newest studio to be embraced in 2019. The studio, received for $10.5 million, is now taken with growing new IP as Bandai Namco owns Little Nightmares. With the sale, Embracer additionally bought the rights to Tarsier’s earlier VR recreation, Statik.


Saber Interactive become Embracer’s 5th running staff when it was once bought for $150 million in early 2019 (even though the preliminary acquire value was once $150 million, the deal has the possible to climb to $525 million in response to efficiency targets). Identified absolute best for her ports and remasters (The Witcher 3 for Transfer, Halo Fight Advanced Anniversary), Saber has additionally had luck growing her personal recreation with International Conflict Z. Might, in addition to in Warhammer 40k: Area Marine 2.

Embracer then received the developer 4A Video games, its proprietary recreation engine and the Metro IP for $36 million, even though the deal may achieve $71 million relying on efficiency milestones. The studio lately launched Metro Exodus in 2019.

The similar day that Embracer received 4A, it purchased New International Interactivethe studio at the back of the Insurgency multiplayer FPS collection, for an undisclosed quantity.

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Embracer additionally expanded its presence in VR in 2020 with its $59 million acquire of Arizona Sunshine developer, Vertigo Video games.

He then bought 13 research in sooner or latertogether with Pinball FX developer Zen Studios, Pink Lamp Studios’ SpongeBob SquarePants: Combat for Bikini Backside – Rehydrated, and Shadow Warrior 3’s Flying Wild Hog. Of those 3 acquisitions, simplest the acquisition value has been printed. from Flying Wild Hog ($137 million).


Embracer kicked off 2021 with its biggest acquire thus far, obtaining Borderlands developer, Gearbox, for $363 million up entrance, with incentives that might make the deal value as much as $1.3 billion. Gearbox become Embracer’s 7th running staff after its acquisition. As for Borderlands, 2K will proceed to submit “all recognized and expected video games” within the collection, even if the IP is owned by means of Gearbox/Embracer.

Along side Gearbox, Embracer introduced the purchase for 100 million bucks of the developer and writer Aspyr Media in February 2021. The acclaimed ports studio has labored on a number of Megastar Wars video games, together with the impending Knights of the Previous Republic remake. The deal may finally end up being value as much as $450 million.

Two years after obtaining Deep Rock Galactic writer Espresso Stain, Embracer purchased the developer Ghost Send Video games. Ghost Send was once one in all 8 acquisitions Embracer introduced on August 5, 2021, in conjunction with DigixArt (Highway 96), Splitgate Ironworks (Ghostrunner) y three-D Nation-states (Duke Nukem Endlessly). Even if particular person costs weren’t disclosed, Embracer introduced that the collective general of the 8 acquisitions that day was once $313 million.

Very best International Leisure and its subsidiary Cryptic Studios they joined Embracer in December 2021 at a worth of $125 million. Cryptic is absolute best recognized for her paintings on MMORPGs, together with Megastar Trek On-line and Neverwinter, in response to D&D. Very best International has modified its title to Gearbox Publishing since its acquisition.


This brings us to the 12 months 2022 and Embracer’s newest collection of acquisitions, which got here courtesy of Sq. Enix, which offered Crystal Dynamics, Eidos-Montreal y Sq. Enix Montreal to Embracer for $300 million. Additionally integrated in that deal had been a number of notable IPs from Sq., corresponding to Tomb Raider, Deus Ex, Legacy of Kain, and Thief.

The purchase got here not up to a month after Crystal Dynamics introduced that it was once operating on a brand new Tomb Raider powered by means of Unreal Engine 5. Eidos-Montreal, in the meantime, is “operating on various AAA tasks together with each new installments of franchises cherished as unique IPs”.