Embracer Group has been dealing with mass layoffs in its holdings and is now beginning the process of selling off its assets. The company will sell one of its largest subsidiaries, Saber Interactive, to a group of private investors in a deal worth up to $500 million, according to a report from Bloomberg.
Saber will become a privately owned company with around 3,500 employees, said the person, who asked not to be identified discussing nonpublic information. The company plans to continue developing a remake of Star Wars: The Knights of the Old Republic, the highly anticipated game that was removed from its previous developer Aspyr Media in 2022.
It remains to be seen what will happen to Embracer’s other holdings.
