All articles tagged with #embracer
Insider Gaming reports that Eidos Montreal cancelled Wildlands, a 7+ year open-world action-adventure project codenamed P11 that reportedly cost hundreds of millions and changed engines multiple times; the game was near completion with a planned release this year, but Embracer shelved it along with other projects (including a Deus Ex title), following internal budget concerns and layoffs.
Bobby Kotick says the 2022 AP7 lawsuit opposing Microsoft’s $69 billion takeover of Activision Blizzard was a collateral attack tied to Embracer’s desire to boost its own game sales; Activision Blizzard and Kotick subsequently filed a counterclaim against Embracer. Embracer denies coordination with AP7. AP7 argued stock declines followed sexual-misconduct coverage; Kotick countered by alleging fake union-busting complaints by the CWA and noted Activision Blizzard’s 2021 EEOC settlement and victims’ fund.
Despite concerns about the status of the long-awaited Knights of the Old Republic remake, developers Saber Interactive insist that the game is "alive and well" and still in active development. Following a tumultuous period including delays, rumors of cancellation, and a change in ownership, Saber's CEO reassured fans that they are dedicated to exceeding consumer expectations. With little information available since its announcement four years ago, the future of the beloved RPG remains uncertain, but Saber's commitment offers hope for its eventual release.
Saber Interactive CEO Matthew Karch confirms that the Knights of the Old Republic Remake is still in active development, dispelling rumors about its status following the company's split from Embracer. Despite previous reports of delays, Karch reassures fans that the game is "alive and well" and that the team is dedicated to exceeding consumer expectations. The beloved Star Wars RPG, originally developed by BioWare in 2003, continues to be eagerly anticipated by fans.
Gearbox Software is laying off staff shortly after announcing its split from Embracer to join Take-Two, with senior user research investigator Jewels Verne and PR manager Jennifer Locke among those affected. The $460 million deal will see Gearbox taking its key franchises to Take-Two, while its publishing arm and certain publishing rights will remain with Embracer. Gearbox CEO Randy Pitchford has expressed optimism about the move, calling it the "best possible scenario" for the studio.
Embracer is selling Borderlands developer Gearbox Entertainment to Take-Two Interactive for $460 million in shares, with three Gearbox Software studios and several franchises changing hands. Embracer will retain other studios and game rights, and plans to sell the Take-Two shares for an expected $300-330 million. The sale is part of Embracer's ongoing restructuring program, following layoffs and studio closures, and CEO Lars Wingefors emphasized the need to focus on IPs with greater economic upside.
Take-Two Interactive is set to acquire Gearbox, the developer behind the Borderlands series, from Embracer for $460 million. The deal, expected to be finalized in June, will see Gearbox operating under Take-Two's 2K label, with founder Randy Pitchford remaining as CEO. This acquisition includes ownership of titles such as Homeworld, Risk of Rain, Brothers in Arms, and Duke Nukem, as well as future Gearbox projects. The move is part of Embracer's restructuring program, while Take-Two sees it as an opportunity to strengthen its creative talent and expand its portfolio of intellectual property.
The Star Wars: Knights of the Old Republic remake appears to be a long way from release, as Embracer's boss suggested it's at least a year away during a financial call. The status of the remake remains unclear, with questions lingering about which company is in charge of the project. Despite ongoing silence from Embracer, developer Saber Interactive was reportedly still working on the game as of November, following significant trouble at the original developer Aspyr. The remake's fate and the nature of the game itself remain uncertain, amid financial struggles at Embracer Group.
Saber Interactive has split from Embracer, taking 38 ongoing game development projects and over 3,000 staff with it, in a deal initially valued at $247 million. The buyer, Beacon Interactive, has the option to acquire Metro developer 4A Games and Pinball developer Zen Studios. Embracer retains future publishing rights to 14 Saber games, including the Warhammer 40,000: Space Marine 2 and Star Wars: Knights of the Old Republic remake. Embracer's CEO called the deal a "win-win solution," safeguarding developer jobs, while Saber's co-founder remains a long-term shareholder of Embracer. Embracer has been selling off parts of its business and is in the process of selling Borderlands developer Gearbox.
Embracer has sold off Saber Interactive for $247 million and will cease operations in Russia, while improving its cash flow. The sale includes studios 3D Realms, Slipgate Ironworks, and more, and is being sold to a group of private investors under Beacon Interactive. The buyer also has an option to acquire 4A Games and Zen Studios for a total deal value of about $500 million. Embracer will retain other studios and IPs, and the long-term license and publishing rights to the Metro franchise. The sale is part of Embracer's restructuring plan to reduce debt and improve financial flexibility, and Saber co-founder Matthew Karch will remain a shareholder of Embracer.
Footage from the cancelled TimeSplitters game by Free Radical Design has been shared online, showing five minutes of gameplay from a mainly third-person over-the-shoulder perspective. The studio was closed in December, leading to the likely cancellation of the project. The closure of Free Radical Design, which was re-established just two years prior, was part of company-wide cuts at Embracer and its owned publishers. The original founders had established a new Free Radical Design in 2021 to revive the TimeSplitters IP.
Eidos Montreal confirms 97 staff layoffs due to Embracer's restructuring, with no mention of the reportedly cancelled Deus Ex project. The studio is supporting affected employees and focusing on creating new games. Embracer's cost-cutting initiative has led to layoffs at Eidos and Crystal Dynamics, impacting their respective franchises. Eidos Montreal's last game was Marvel's Guardians of the Galaxy, and the studio is now pivoting to develop a new property.
Embracer reportedly cancels an unannounced Deus Ex game at Eidos Montreal after two years of development, leading to layoffs. The studio will now focus on an original franchise. Embracer's restructuring program has resulted in closures, layoffs, and project cancellations across various studios, including Crystal Dynamics and Gearbox.
Lost Boys Interactive, the developer behind Tiny Tina's Wonderlands, has faced layoffs across all disciplines and levels, citing industry challenges. This comes as part of a series of cost-cutting measures by its parent company, Embracer, which has previously laid off hundreds of employees and closed some studios. The company attributes the layoffs to the dissolution of a potential deal that would have brought in significant revenue.
Free Radical Design, the UK-based studio known for developing the TimeSplitters series, has confirmed its closure after shutting down its website and employees posting farewell messages on social media. The closure comes as part of company-wide cuts at Embracer and its owned publishers. All 80 remaining staff at Free Radical Design have reportedly been let go, adding to the growing number of job losses in the gaming industry. The closure raises uncertainty about the future of the TimeSplitters franchise, which the new Free Radical Design was established to revive.