KARLSTAD, Sweden, Aug. 18,
2022 /PRNewswire/ -- Embracer Group AB
("Embracer"), through its wholly owned subsidiary Saber
Interactive[1], has acquired 100 percent of the shares of Swedish
developer Tuxedo Labs. Tuxedo Labs is best known for creating the
hit voxel-based destruction PC game Teardown. Embracer adds
Dennis Gustafsson, Tuxedo Labs'
Founder and CTO, who is a highly technical visionary with a
specialty in physics, and his team of 5.
[1] Acquired through Embracer's wholly-owned subsidiary Embracer
Group Lager 2 AB and will be part of the Saber Interactive
operative group
"Tuxedo Labs has created revolutionary technology that opens
up vast possibilities for emergent gameplay and user-created
content. Their hit title Teardown has the potential to become the
standard-bearing platform for physics simulation in games. Many of
us at Saber and our subsidiary 3D Realms have worked with Dennis
since the mid-2000's. We are super excited to welcome Dennis, their
CEO Marcus Dawson, and the rest of
the Tuxedo Labs team into the Embracer family," said Matthew Karch, CEO of Saber Interactive.
"This is a perfect fit for us because of our shared interests
in physics-driven game design and Saber's resources to help us
achieve our long-term vision. We will now be able to rapidly expand
and accelerate our plans for Teardown, including bringing it to new
audiences, while simultaneously focusing on evolving voxel-based
technology for our next generation of games," said Dennis Gustafsson, Founder of Tuxedo
Labs.
Background and rationale
Founded in 2019 in Malmo,
Sweden, Tuxedo Labs has six team
members led by Dennis Gustafsson, a
highly-technical visionary. Their first title, Teardown, has
received universal critical acclaim since its initial release in
Steam Early Access in 2020 and has built a thriving modding
community. The game exited early access in April 2022 and has sold over a million copies on
Steam to date.
Dennis Gustafsson is the founder
of Tuxedo Labs and Chief Technology Officer; he recently brought on
Marcus Dawson, former CEO of
Illusion Labs, as the company's new Chief Executive Officer.
Gustafsson has a Master of Science degree in technological media
from Linköpings University, and previously worked on the
object-oriented physics engine Meqon and co-created the popular
game Smash Hit in 2014 (200m
downloads).
The acquisition adds a uniquely talented team focused on
physics-based game technology and design. Within the Embracer
Group, Tuxedo Labs will operate as a subsidiary under the Saber
operating group. The acquisition further strengthens Saber's
presence within Sweden.
Purchase Price
The parties have agreed not to disclose specific terms due to
commercial reasons. The purchase price contains an upfront part and
a long-term potential earn-out. The terms and conditions for the
acquisition are in line with previous Embracer transactions.
Founder Dennis Gustafsson is
committed to Tuxedo Labs and the company will focus on growing in
Malmo, Sweden. Post transaction business will remain
as usual, with the team focused on expanding Teardown.
Completion of the transaction
The transaction was completed on 1 July
2022.
For additional information, please
contact:
Oscar Erixon,
Head of Investor Relations Embracer Group AB (publ)
Tel: + 46 730 24 91 42
Email: oscar.erixon@embracer.com
Beatrice Forsgren, Head of Brand
and Communication Embracer Group AB (publ)
Tel: +46 704 52 57 63
E-mail: beatrice.forsgren@embracer.com
Matthew Karch, CEO of Saber
Interactive
E-mail: karch@saber3d.com
Marcus Dawson, CEO of Tuxedo
Labs
E-mail: marcus@tuxedolabs.com
About Embracer Group
Embracer Group is a parent company of businesses led by
entrepreneurs in PC, console, mobile and board games and other
related media. The Group has an extensive catalog of over 850 owned
or controlled franchises.
With its head office based in Karlstad, Sweden, Embracer Group has a global presence
through its eleven operative groups: THQ Nordic, Plaion, Coffee
Stain, Amplifier Game Invest, Saber Interactive, DECA Games,
Gearbox Entertainment, Easybrain, Asmodee, Dark Horse and Embracer
Freemode. The Group has 120 internal game development studios and
is engaging more than 12,750 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.
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PR_Embracer Group acquires Tuxedo Labs