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Embracer Group Acquires Snapshot Games in Cash and Stock Transaction
Friday 20 November 2020

Swedish game developer Embracer Group AB (NASDAQ: EMBRAC B) has agreed to acquire 100% of the shares in US and Bulgaria-based video game developer Snapshot Games Inc, and its wholly owned subsidiary Snapshot Games Sofia EOOD in a mix of cash and Embracer B shares, the company said.

The parties have agreed not to disclose the full transaction terms due to commercial reasons. The earnout consideration is based on financial targets up until 2025 (5 years). The terms and conditions for the acquisition are in line with previous Saber transactions.

Snapshot Games will form a part of Embracer's wholly owned subsidiary Saber Interactive.

Ernst and Young AB is providing transaction support and Baker McKenzie is acting as legal counsel to Embracer in the transaction.

Aream and Co. acted as financial advisor to the Seller and Perkins Coie as legal counsel to the Seller.

Embracer Group is the parent company of businesses developing and publishing PC, console and mobile games for the global games market.

Snapshot Games is a video game developer behind premium strategy title Phoenix Point.
Date Published: 20/11/2020