STOCKHOLM, Nov. 18, 2020 /PRNewswire/ -- Embracer Group
AB ("Embracer") has today entered into an agreement to acquire the
remaining 40 percent of the shares in Coffee Stain North AB
("CSN"), from the nine original founders. CSN is a 22-person strong
game studio located in Stockholm,
Sweden. The acquisition makes CSN a wholly owned subsidiary
of Coffee Stain Holding AB ("Coffee Stain").
"We're really happy to get this deal done. We've worked with
CSN since 2013 and their team is a great addition to the Coffee
Stain group. There's some really exciting stuff being worked on
that we can't wait to share with the world!" says Anton
Westbergh, CEO Coffee Stain Studios.
Background and rationale
CSN is a game development studio founded in 2013. The studio,
consisting of a smaller team of 22 dedicated developers, is based
in Stockholm, Sweden. CSN has been
a longstanding partner of Coffee Stain Studios and a partly owned
subsidiary since 2018. CSN has collaborated on the phenomena Goat
Simulator and developed the original title A Story About My Uncle.
CSN currently has a title in production with expected release
during 2021, an ongoing collaboration with Coffee Stain Studios
since 2017.
With the acquisition, Coffee Stain look forward to continuing
the longstanding partnership with the team of CSN.
Purchase Price
The parties have agreed not to disclose the full transaction
terms due to commercial reasons. The upfront consideration consists
of a mix of cash and Embracer B shares. The earn-out consideration
is based on financial targets up until 2028 (8 years).
Completion of the transaction
The transaction is not subject to any further condition and is
completed as of November 18,
2020.
Advisers
Ernst & Young AB is providing transaction support and Baker
McKenzie is acting as legal counsel to Embracer in the
transaction.
For additional information, please contact:
Lars Wingefors, Co-founder and Group CEO Embracer Group AB
Tel: +46 708 47 19 78
E-mail: lars.wingefors@embracer.com
Anton Westbergh, CEO Coffee Stain Studios.
Tel: +46 763 24 71 28
E-mail: anton@coffeestain.se
About Embracer Group
Embracer Group is the parent company of businesses developing
and publishing PC, console and mobile games for the global games
market. Embracer Group has an extensive catalogue of over 190 owned
franchises, such as Saints Row, Goat Simulator, Dead Island,
Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters,
Satisfactory, Wreckfest, Insurgency and World War Z, amongst many
others.
With its head office based in Karlstad, Sweden, Embracer Group has a global presence
through its six operative groups: THQ Nordic GmbH, Koch Media
GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest, Saber
Interactive and DECA Games. Embracer Group has 46 internal game
development studios and is engaging more than 4,000 employees and
contracted employees in more than 40 countries.
Embracer Group's shares are publicly listed on Nasdaq First
North Growth Market Stockholm under the ticker EMBRAC B with FNCA
Sweden AB as its Certified Adviser; info@fnca.se +46-8-528 00
399.
Subscribe to press releases and financial information:
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For more information, please visit: http://www.embracer.com
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Embracer Group
acquires Coffee Stain North
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