News

Embracer Group Merges with Easybrain

Easybrain

The third announcement from Embracer Group reveals that the company plans to merge with Easybrain no later than April 2021, announced earlier today. This is part of Embracer’s strategy that includes the acquisition of Aspyr Media and merger with The Gearbox Entertainment Company.

The Cyprus-based Easybrain will merge with Embracer Group in an all-equity transaction with a day one purchase price amounting to  $640 million USD  on a cash and debt-free basis plus a maximum of $125 USD million in additional consideration. Easybrain will serve as the eighth operative group for Embracer and operate as a wholly-owned subsidiary.

“I am excited to welcome Peter, Matvey, Oleg, and the entire Easybrain team to the Embracer family,” says Embracer Group CEO and co-founder Lars Wingefors in a press release. “Easybrain is a highly diversified growth business with a market-leading position in timeless puzzle and logic games. They are an extremely experienced and process-driven team with a superior tech platform and world-class UA capabilities. Easybrain has repeatedly demonstrated the capability to develop, scale globally, and operate category-leading puzzle and logic games. By joining forces with Easybrain, we have meaningfully accelerated Embracer’s mobile and free-to-play business.”

Easybrain is a leading mobile game developer and its titles have more than 750 million installs to date with 12 million active users across 15 live games.

The day one purchase amount of $630 million USD is paid in Embracer shares.

“We are delighted that Easybrain merges with Embracer. We are extremely proud of the team that brought our business to what it is today, and now we feel it’s time to become part of something bigger,” says Oleg Grushevich, CEO of Easybrain. “We are positive that our future efforts will contribute greatly to the group results and are excited to be part of such a great group of entrepreneurs under Lars’ leadership.”

Categories
News

Bobby has been gaming since he was old enough to walk. Since then, the interest has only grown stronger, and here we are today. Follow Bobby on Twitter, and just go with it. @bpashalidis

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.