Embracer Group will sell Saber Interactive in a deal worth up to $500 million, according to a report from Bloomberg.
Saber will continue work on its remake of Star Wars: Knights of the Old Republic after development was removed from Aspyr in 2022.
This deal is just the latest for Embracer as part of its restructuring program that has already seen more than a thousand employees laid off and studios closed.
Newscast: Why are there so many layoffs in the gaming industry?Saber will become a privately held company of about 3,500 people, a source told Bloomberg. Embracer originally bought the company in 2020 for $525 million, meaning it has potentially made an overall loss.
The $500 million figure is said to include an option for Saber to incorporate several Embracer subsidiaries.
Saber is best known for its games Snowrunner and World War Z. Their next game will be Expeditions: A Mudrunner Game and will be released on March 5, according to the Company websitewith Space Marine 2, Jurassic Park: Survival, Heading Out and John Carpenter's Toxic Commando all set for release in 2024.
According to its latest financial report from earlier this month, Embracer has laid off eight percent of its workforce as its restructuring program reaches “mature stages.” In total, 1,387 Embracer employees have lost their jobs in the last two quarters.
In that financial report, the Star Wars: Knights of the Old Republic remake remained on Embracer's list of upcoming games, despite development issues. In November 2023, a report said that the game was not being worked on at Sabre, although this was contradicted a couple of days later.
“'Its alive?' and 'Will he ever come to light?' They are two very different issues,” journalist Jason Schreier said at the time. “A third question is: 'If it ever comes out, what will it really be like?'”
