Sweden’s Embracer buys six companies, eyes profit boost

Sweden’s Embracer buys six companies, eyes profit boost

18 Aug    Finance News

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STOCKHOLM — Swedish gaming group Embracer announced on Thursday six acquisitions and predicted the deals would boost its earnings by between 550 million crowns and 1.5 billion crowns ($52.8 million-$144 million) over the coming three years.

The aggregated upfront purchase price for the businesses amounted to 6.0 billion Swedish crowns, and the likely total consideration would amount to 8.2 billion, the company said in a statement.

The acquisitions included a unit of The Saul Zaentz Company that owns certain intellectual property rights linked to The Lord of the Rings and The Hobbit by author J.R.R. Tolkien, Embracer said.

It also bought the companies Limited Run Games, Stingtrix, Tuxedo Labs and Tripwire Interactive, as well as one company whose name was kept confidential for the time being. ($1 = 10.4196 Swedish crowns) (Reporting by Anna Ringstrom, editing by Terje Solsvik)

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