Embracer Group acquired multiple companies this week, including MMO publisher Perfect World Entertainment.
The company acquired two subsidiaries, Perfect World North America Corporation and Perfect World Publishing, from Perfect World Europe for $125 million. This also included Cryptic Studios, known for MMOs such as Neverwinter and Star Trek Online.
Although Embracer itself made the acquisition, these companies and their 237 employees will be integrated into Gearbox Entertainment, which was acquired earlier this year in a $1.3 billion deal.
Embracer noted that Perfect World Entertainment suffered operating losses in 2021 due to the cancellation of Cryptic’s new MMO Magic: Legends game and a gap in its release plan. However, the group says it is confident that under its leadership, PWE Publishing and Cryptic will make a “strong financial contribution” to its operations.
These acquisitions are expected to strengthen Gearbox’s publishing operations and add MMO’s to Embracer’s portfolio.