THQ Nordic parent company raises $164m to buy more studios

Embracer Group, the THQ Nordic parent company, has raised $164 million through a direct share issue.

The group will use the investment from over 100 companies to make further acquisitions of development studios and publishers, as well as other assets. This signifies the company’s commitment to its expansion strategy. In February, Embracer acquired Saber Interactive for $525 million.

As for the challenges posed by the pandemic, Embracer said that the physical distribution has been impacted the most. “However, parts of these retail sales have moved to e-commerce sales. Currently, all the Group’s physical distribution operations are fully operative.”

Otherwise, the group’s studios and publishers have successfully adapted to the lockdown and now continue working remotely.

The Group has 31 internal game development studios and is engaging more than 3,500 employees and contracted employers in more than 40 countries.