Embracer Group Acquires Appeal Studios, KAIKO, Massive Miniteam, and FRAME BREAK, establishes Gate21

Embracer Group acquires Appeal Studios, KAIKO, Massive Miniteam and FRAME BREAK

Embracer Group (“Embracer”) through its subsidiaries THQ Nordic and Amplifier Game Invest have entered into four acquisition agreements to acquire 100% each of Appeal Studios, KAIKO, Massive Miniteam and FRAME BREAK. In addition, THQ Nordic is today also announcing that it has founded Gate 21 in Bosnia and Herzegovina. The aggregated day one purchase price for all four acquisitions amounts to approximately SEK 71 million on a cash and debt free basis.

THQ Nordic has made the following acquisitions:

Appeal Studios: THQ Nordic has acquired Belgium-based- Appeal Studios – the original creators behind Outcast (1999). Appeals Studios was founded in 2018 and is currently engaging 55 employees. The team is currently developing an innovative Open-world sci-fi action adventure that has not been officially announced. See Appeal Studios’ website for further information, appeal-studios.com.

KAIKO: THQ Nordic has acquired the Frankfurt-based KAIKO – the developer behind numerous technically challenging ports such as in Red Faction Guerrilla Re-Mars-tered, Legend of Kay Anniversary, Darksiders: Warmastered, Darksiders II: Deathinitive Edition and most recently Kingdoms of Amalur Re-Reckoning and its upcoming expansion Fatesworn. The studio was founded 2014 and currently engages 10 employees. See KAIKO’s website for further information, KAIKOgames.com.

Massive Miniteam: THQ Nordic’s studio and publisher, HandyGames has acquired the German-based studio Massive Miniteam. The acquisition is the first one done by HandyGames. Massive Miniteam was founded 2018. The studio is located Pulheim, near Cologne, and employs 20 team members. Massive Miniteam is a motivated and highly creative development team working with HandyGames on several titles. Massive Miniteam will be fully integrated within the HandyGames organization, under the operative group THQ Nordic. See Massive Miniteam’s website for further information, massiveminiteam.com.

In addition, THQ Nordic has founded and incorporated Gate21 in Sarajevo, Bosnia and Herzegovina. The team will enable THQ Nordic GmbH to have world-class 3D characters using the most advanced character and facial rigs in development projects.

Amplifier Game Invest AB has made the following acquisition:

FRAME BREAK: Amplifier Game Invest has acquired the Swedish-based studio FRAME BREAK. The studio was founded in 2020 and today has a team size of 5 persons. FRAME BREAK will be developing games based on their own IP, focusing on highly replayable co-op experiences on platforms like PC and Consoles. FRAME BREAK, based in Skövde, becomes a wholly owned subsidiary of Amplifier Game Invest, joining the ranks of 13 other game development companies already part of the Amplifier family.