Embracer Group acquires Shiver Entertainment

Embracer Group acquires Shiver Entertainment

PR Newswire

STOCKHOLM, Dec. 21, 2021

STOCKHOLM, Dec. 21, 2021 /PRNewswire/ -- Embracer Group AB ("Embracer"), through its wholly owned subsidiary Saber Interactive Inc., has acquired 100 percent of the shares in U.S based Shiver Entertainment Inc. ("Shiver") from its founders. Shiver is a game development studio founded by industry veterans John Schappert and Jason Andersen. Through the acquisition, Saber Interactive adds a highly skilled team of nearly 20 people, focusing on game development, co-development, and porting projects across platforms and genres.

"I can't believe I get to finally work with Schappert and Andersen - two industry legends based in my hometown of Miami. With this acquisition we have not only brought in a great development resource, but we add significantly to Saber's management capabilities.  John and I are ready to greatly expand our operations in North America," says Matthew Karch, CEO of Saber.

Background and rationale

Shiver, based in Florida with headquarters in Miami, is a game development studio founded in 2013, with focus on game development, co-development and porting projects across platforms and genres.

Shiver is led by founders John Schappert and Jason Andersen, both with significant experience from leading positions within the gaming industry. John formerly served as Chief Operating Officer of Electronic Arts and Zynga and ran Xbox Live for Microsoft. He and Jason also founded Tiburon Entertainment which eventually became EA Tiburon - one of the largest and most successful studios in the world. Shiver engages a dedicated team of 17 experienced developers, who have successfully collaborated with leading publishers on popular game projects such as Mortal Kombat. The team also has original game projects in the pipeline for release in the near future. The acquisition adds two highly-respected industry veterans to the Saber operative group, additional development capabilities and most importantly significant business development prowess.

Within Embracer group, Shiver will operate as a subsidiary under the Saber operating group. Schappert will take on significant responsibilities within Saber's work-for-hire business. The acquisition of Shiver further strengthens Saber's presence within the U.S.

In the calendar year 2020, Shiver generated net sales of SEK 40 million. Shiver is expected to contribute an operational EBIT of SEK 40-60 million in FY22/23 and SEK 70-90 million in FY23/24.

Purchase Price and financial contribution

Due to commercial reasons the specific transaction terms are not disclosed. The transaction will be accretive to adjusted earnings.

Completion of the transaction

The transaction was completed on 16 December 2021.

For additional information, please contact:
Lars Wingefors, Co-founder and Group CEO Embracer Group AB
Tel: +46 708 47 19 78
E-mail: lars.wingefors@embracer.com
John Schappert, CEO and Co-founder of Shiver Entertainment Inc.
E-mail: js@shiver.net
Matthew Karch, CEO and Co-founder, Saber Interactive
Email: karch@saber3d.com

About Embracer Group

Embracer Group is the parent company of businesses developing and publishing PC, console and mobile games for the global games market. The Group has an extensive catalogue of over 240 owned franchises, such as Saints Row, Goat Simulator, Dead Island, Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters, Satisfactory, Wreckfest, Insurgency, World War Z and Borderlands, amongst many others.

With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its eight operative groups: THQ Nordic GmbH, Koch Media GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest, Saber Interactive, DECA Games, Gearbox Entertainment and Easybrain. The Group has 86 internal game development studios and is engaging more than 9,000 employees and contracted employees in more than 40 countries.
 

Embracer Group's shares are publicly listed on Nasdaq First North Growth Market Stockholm under the ticker EMBRAC B with FNCA Sweden AB as its Certified Adviser; info@fnca.se +46-8-528 00 399.

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Important information

The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Embracer in any jurisdiction, neither from Embracer nor from someone else.

This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in Embracer's shares. Any investment decision regarding Embracer's shares must be made on the basis of all publicly available information relating to the company and the company's shares. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. This announcement does not constitute a recommendation. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this announcement and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.

Forward-looking statements

This press release contains forward-looking statements that reflect the company's intentions, beliefs, or current expectations about and targets for the company's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the company operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. Embracer does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither Embracer nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, unless it is not required by law or Nasdaq First North Growth Market's rule book for issuers.

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PR_Acquisition of Shiver

 

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