Star Wars: Knights of the Old Republic remake developer Saber Interactive has reportedly left embattled parent company Embracer in a $500 million deal to become a privately owned company.
Bloomberg reports the troubled Star Wars: Knights of the Old Republic remake is still in the works, although question marks remain over whether it will ever actually come out, and if it does, what sort of game it will be. In November, Embracer CEO Lars Wingefors refused to answer a question about the KOTOR remake during a financial presentation, saying: “I notice that anything I say to this becomes a headline, so that is my only comment." Saber Interactive is also developing Warhammer 40,000: Space Marine 2, due out in September.
Borderlands developer Gearbox is also up for sale as Embracer’s high-profile restructuring continues.
This month, Embracer warned of further layoffs despite letting go of 1,387 staff since its restructuring began in June. Embracer’s total headcount was reduced by 904 during the second quarter of its financial year, then by another 483 in the third quarter. That’s 8% of the group's global workforce. The company also canceled 29 unannounced games during the two quarters.
Wingefors went on to say Embracer was in the process of selling off parts of its business. Embracer bought Gearbox in February 2021 as part of an acquisition spree that included snapping up Tomb Raider developer Crystal Dynamics, among many other studios. “Processes are in mature stages,” Wingefors said, before warning layoffs at Embracer’s various studios may occur before any sale is completed. “Certain companies might initiate restructuring before any divestment is announced,” he said.
Embracer Group’s financial struggles began following the collapse of a $2 billion deal, reportedly with Saudi government funded company Savvy Games Group. The Swedish firm has since come under fire for the sweeping cuts it has already made, including the closure of long-running Saints Row maker Volition.
Last month it emerged Embracer had canceled a new Deus Ex game that was two years in development and laid off 97 staff at developer Eidos Montreal. According to Bloomberg, the unannounced third mainline entry in the Deus Ex series was supposed to enter production later this year. However, developer Eidos Montreal will reportedly focus on an original franchise instead. "The global economic context, the challenges of our industry, and the comprehensive restructuring announced by Embracer have finally impacted our studio," said the studio. Elsewhere across Embracer, there were layoffs at Black Forest Games, Lost Boys Interactive, and Nimble Giant Entertainment.
Wesley is the UK News Editor for IGN. Find him on Twitter at @wyp100. You can reach Wesley at wesley_yinpoole@ign.com or confidentially at wyp100@proton.me.
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Bloomberg reports the troubled Star Wars: Knights of the Old Republic remake is still in the works, although question marks remain over whether it will ever actually come out, and if it does, what sort of game it will be. In November, Embracer CEO Lars Wingefors refused to answer a question about the KOTOR remake during a financial presentation, saying: “I notice that anything I say to this becomes a headline, so that is my only comment." Saber Interactive is also developing Warhammer 40,000: Space Marine 2, due out in September.
Borderlands developer Gearbox is also up for sale as Embracer’s high-profile restructuring continues.
This month, Embracer warned of further layoffs despite letting go of 1,387 staff since its restructuring began in June. Embracer’s total headcount was reduced by 904 during the second quarter of its financial year, then by another 483 in the third quarter. That’s 8% of the group's global workforce. The company also canceled 29 unannounced games during the two quarters.
Wingefors went on to say Embracer was in the process of selling off parts of its business. Embracer bought Gearbox in February 2021 as part of an acquisition spree that included snapping up Tomb Raider developer Crystal Dynamics, among many other studios. “Processes are in mature stages,” Wingefors said, before warning layoffs at Embracer’s various studios may occur before any sale is completed. “Certain companies might initiate restructuring before any divestment is announced,” he said.
Embracer Group’s financial struggles began following the collapse of a $2 billion deal, reportedly with Saudi government funded company Savvy Games Group. The Swedish firm has since come under fire for the sweeping cuts it has already made, including the closure of long-running Saints Row maker Volition.
Last month it emerged Embracer had canceled a new Deus Ex game that was two years in development and laid off 97 staff at developer Eidos Montreal. According to Bloomberg, the unannounced third mainline entry in the Deus Ex series was supposed to enter production later this year. However, developer Eidos Montreal will reportedly focus on an original franchise instead. "The global economic context, the challenges of our industry, and the comprehensive restructuring announced by Embracer have finally impacted our studio," said the studio. Elsewhere across Embracer, there were layoffs at Black Forest Games, Lost Boys Interactive, and Nimble Giant Entertainment.
Wesley is the UK News Editor for IGN. Find him on Twitter at @wyp100. You can reach Wesley at wesley_yinpoole@ign.com or confidentially at wyp100@proton.me.
Continue reading...
