Embracer Group is selling Easybrain for $1.2 billion
The Swedish holding company Embracer Group continues to sell its assets. Following the sale of Saber Interactive and Gearbox Entertainment, it has decided to part with the mobile game developer Easybrain.
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Easybrain has been acquired by Miniclip. The company has agreed to pay 12.9 billion SEK (1.2 billion USD) in cash to the holding company.
The deal is not yet finalized and is expected to be completed in the early months of 2025.
Easybrain executives Petr Skoromnyi, Matvey Timoshenko, and Oleg Grushevich will remain shareholders of Embracer Group.
According to Embracer Group, the sale of Easybrain is beneficial for all parties involved. Embracer Group itself will improve its financial position by almost entirely eliminating its debt to creditors, Easybrain will gain more opportunities for growth in the challenging mobile gaming market, and Miniclip will strengthen its portfolio.
Embracer Group acquired Easybrain in 2021, initially paying 640 million USD and promising to transfer up to another 125 million USD depending on the studio’s performance. In the last financial year (April 2023 - March 2024), Easybrain earned 3.4 billion SEK (308.96 million USD).
