Embracer Group sells Arc Games and Cryptic Studios
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Key points
- Embracer Group announced on Nov. 26 that it will be divesting Arc Games and Cryptic Studios to Project Golden Arc.
- XD Inc. is financing the purchase, with the expected net cash proceeds of around $30 million.
- Embracer will retain publishing rights for the Remnant franchise and rights for Fellowship.
Embracer Group announced that it will be divesting Arc Games and Cryptic Studios to Project Golden Arc, Inc., with financing from SD Inc. The expected net cash proceeds amount to approximately $30 million after transaction-related costs. Project Golden Arc. Inc. is owned and led by the Arc Games management team.
The rights to the Remnant franchise are being transferred to THQ Nordic, and the rights to Fellowship will go to Coffee Stain Group, both under the Embracer Group umbrella as of now. However, by the end of 2025, Embracer Group plans to have Coffee Stain Group become an independent, publicly listed company. After Coffee Stain Group spins off and becomes its own company, Embracer will be renamed Fellowship Entertainment, marketed to unite top creators and intellectual properties, fostering creativity to build unforgettable experiences for the fans.
Fellowship Entertainment will have approximately 6,000 employees across more than 30 countries, and consist of companies such as 4A Games, Aspyr Media, CrazyLabs, Crystal Dynamics, Dambuster Studios, Dark Horse, Deca Games, Eidos-Montréal, Flying Wild Hog, and more.
