Savvy Games Group is supporting plans from European publisher Embracer Group Management to break itself up into three separate publicly traded companies, following a layoff of more than 1,000 people and the sale of popular assets such as Saber Interactive and Gearbox.
Embracer Group Management is slated to split into tabletop specialist Asmodee, mid-tier publisher Coffee Stain & Friends and triple-A firm Middle-Earth Enterprises & Friends, and one of their biggest investors, Savvy Games Group, is supporting the moves.
“We welcome the company’s announcement today regarding a proposed transformation into three separate entities, and believe that the proposal offers significant operational and shareholder benefits,” Savvy Games Group CEO Brian Ward said, according to Pocket Gamer Biz.
“We remain fully supportive of management and are confident that the board and executive team are working in the best interests of the company’s operative groups, businesses, employees, and shareholders.”
Embracer Group has a long road to recovery and out of debt, but they have one of their biggest investors on board to support them through the process.
