Embracer Group has announced the sale of Saber Interactive to a company called Beacon Interactive, founded by Saber co-founder Matthew Karch, in a deal worth $247 million, although options in the deal mean that price could go much higher. The deal will also see Embracer halt all operations in Russia, which the company said in a presentation "reduces geopolitical risk."
"I am pleased that we have found a win-win solution for Embracer and the parts of Saber that now will leave us," Embracer CEO Lars Wingefors said in the announcement. "This transaction puts both companies in a stronger position to thrive going forward. Embracer is now able to discontinue all operations in Russia, according to a previous board decision, while safeguarding many developer jobs under new independent ownership.
