Swedish gamer develops $US2.4b fortune by making deals
Hanna Hoikkala
Share
A relatively unknown Swedish company has become Europe’s most valuable video-game developer after the region’s most prolific deal spree.
Embracer Group announced 27 takeovers over the past 12 months, according to data compiled by Bloomberg.
In February, Embracer bought Gearbox Software, the developer of Borderlands, in a deal worth up to $US1.3 billion.
Its pace of acquisitions surpassed UK business services’ provider Marlowe, which announced 12 purchases during the period, and Swedish investment firm Lifco, which sealed 16 transactions.
Embracer founder Lars Wingefors started out as a teenager selling comics by mail-order before branching into video games.