Embracer Keeps Shrinking: Holding Company Sells Arc Games and Cryptic Studios for $30 Million
Project Golden Arc acted as the buyer.
The Swedish conglomerate Embracer Group announced it has sold two businesses — the publisher Arc Games (formerly Perfect World Entertainment and Gearbox Publishing San Francisco) and the developer Cryptic Studios — to Project Golden Arc for $30 million.
Arc Games published titles such as Star Trek Online, Neverwinter, and Remnant: From the Ashes, while Cryptic Studios was the developer behind Star Trek Online and Neverwinter.
Under the terms of the agreement, Embracer will retain publishing rights to the Remnant franchise, and the rights to the MMO Fellowship will be transferred to the internal Coffee Stain Group division.
This transaction aligns with our primary priorities: it sharpens our focus on strategic assets and Embracer’s core intellectual property, while improving profitability and free cash flow.
Embracer acquired both companies in 2021 as part of a broad acquisition spree. However, after the collapse of a reported $2 billion deal with Saudi-backed Savvy Games, the group was compelled to undertake a sweeping restructuring in 2023.
Source: iXBT.games
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