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Embracer Group has announced that it's selling Remnant and Hyper Light Breaker publisher Arc Games and Star Trek Online developer Cryptic Studios in a deal that'll net the company $30 million.
Announced in a press release today, Embracer confirms that it's selling the companies – which it acquired back in December 2021 – to Project Golden Arc Inc., which it says is "owned and led by members of the Arc Games management team." The sale is also being financed by developer and publisher XD Inc.
In this move, publishing rights for the Remnant series will be transferred away from Arc Games and over to THQ Nordic, also an Embracer Group subsidiary (and the owner of the Remnant IP rights). In addition, the multiplayer dungeon crawler Fellowship (which currently lists Arc Games as its publisher) will become part of Coffee Stain, which itself "is expected to be spun off from Embracer and listed on Nasdaq First North Premier Growth Market in Stockholm." Arc will be listed as a co-publisher going forward.
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Embracer CEO Phil Rogers states that the "transaction supports our key priorities by strengthening our focus on strategic assets and core IPs in Embracer while improving profitability and free cash flow," thanking the staff at Arc Games and Cryptic Studios for their work since 2021. "We are confident they will thrive and develop in the years ahead," he adds.
In recent years, Embracer Group has acquired an enormous number of video game companies, but at this point it's perhaps most notorious for the mass layoffs and studio closures that followed in a controversial restructuring program.
I'm GamesRadar+'s Deputy News Editor, working alongside the rest of the news team to deliver cool gaming stories that we love. After spending more hours than I can count filling The University of Sheffield's student newspaper with Pokemon and indie game content, and picking up a degree in Journalism Studies, I started my career at GAMINGbible where I worked as a journalist for over a year and a half. I then became TechRadar Gaming's news writer, where I sourced stories and wrote about all sorts of intriguing topics. In my spare time, you're sure to find me on my Nintendo Switch or PS5 playing through story-driven RPGs like Xenoblade Chronicles and Persona 5 Royal, nuzlocking old Pokemon games, or going for a Victory Royale in Fortnite.
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