

Embracer bet it all on a multi-billion dollar deal with a Saudi investment company that fell apart at the last minute due to Embracer adding more and more demands. This deal failing also caused their stock price to tumble. They’ve been cutting everything, everywhere ever since to get out of debt.
I wish they’d do so by selling their studios whole instead of chopping them apart and leaving them hollow shells of themselves. I can only think of three major sales as opposed to the dozens of studio closures and nearly a hundred projects they’ve canceled.
Embracer is also splitting into three separate companies to shed the tainted Embracer name, all still owned and run by Wingefors of course.
Asmodee Group (for board games) and Coffee Stain Publishing (for indie games) are the only two with official names last I heard. The unnamed third is the big one and Embracer’s direct successor, but I guess they’re delaying naming it to minimize bad press associated with the new name.