Through Embracer Group Subsidiary, Embracer Freemode Makes Massive Acquisition

Embracer Freemode massive acquisition (photo: Embracer group)

JAKARTA - Embracer Group announced today on Thursday, August 18th that they have formed a new group called Embracer Freemode.

In its press release, the company revealed that its new group will consist of certain game and entertainment companies owned by Embracer.

Freemode will provide a global strategic, operational and financial support ecosystem for small to medium-sized enterprises to achieve operational efficiencies and grow their businesses effectively.

In addition, Embracer added, Freemode will expand its operations across the retro, classic and legacy game categories, as well as invest in iconic game and entertainment properties.

"With our announcement of Freemode, we are demonstrating our continued commitment to diversifying growth into new areas, ultimately preserving yesterday's classics while expanding the gaming and entertainment experience in the future," said Lars Wingefors, CEO of Embracer AB Group.

Freemode is headquartered in Karlstad, Sweden with regional offices in Livermore, California, London, United Kingdom and Hong Kong.

The newly formed operating group focuses on 6 business market segments, including Retro/Classic/Legacy Games and Entertainment, Game Development and Production, Devices, Equipment and Collections, Community and Ecommerce, Incubation of New Ideas and Technologies, and Production Services.

Freemode is led by CEO Lee Guinchard, a 30-year gaming veteran and entrepreneur.

Through Embracer Freemode, the company has acquired three game companies, including Tatsujin which is Embracer's first studio located in Japan.

The next studio to be acquired was Bitwave Games, a Swedish studio with a passion for retro games. And Gioteck, one of the leading gaming accessory brands in Europe.

In a separate announcement on the same day, the company also announced that it had acquired Middle-Earth Enterprises as well as Limited Run Games and Singtrix.