STOCKHOLM, Aug. 5, 2021 /PRNewswire/ -- Embracer Group AB ("Embracer") through its operative group Koch Media GmbH ("Koch Media") and wholly owned subsidiary Vertigo Games B.V. ("Vertigo Games"), has entered into an agreement to acquire 100 percent of the shares in Force Field B.V. ("Force Field"). Force Field is a leading VR development studio with a portfolio of multiple award-winning VR titles, including Oculus Studios' titles "Landfall", "Time Stall" and "Coaster Combat".
"Known for their AAA production standards and pioneering VR game development expertise, we are thrilled to welcome Force Field to the team. Together we are a major step closer to building a global VR powerhouse that will bring even bigger, high production value, and cutting-edge VR games to players around the world", says Richard Stitselaar, CEO Vertigo Games.
Background and rationale
Force Field is a technologically advanced AAA VR development studio founded in 2015, with headquarters located in Amsterdam, the Netherlands. The studio has a team of approx. 65 employees with extensive experience from working on innovative game development projects and offers a growing portfolio of high-end VR games launched on platforms globally. The team has also developed VR experiences such as National Geographic Explore and Anne Frank's House in VR. Force Field is led by co-founder and CEO Arthur Houtman and Creative Director Martin de Ronde, that will remain in their current roles. The company was owned by a combination of current management, co-founders and financial investors
Through the acquisition, Vertigo Games onboards an experienced team that enables increased 1st party AAA VR development capabilities to fuel rapid growth in the VR market. Going forward, Force Field will operate as an independent subsidiary to Vertigo Games and continue to produce innovative and creative VR titles.
"Today we enter a new phase of growth as part of Vertigo Games, who are not only one of the most successful VR game development studios, but also a leading VR publisher and to be part of the immensely diverse global Koch Media / Embracer Group, allows us to fully leverage our company's potential" says Arthur Houtman, Co-founder and CEO Force Field.
Purchase Price
The parties have agreed not to disclose the transaction terms. The consideration consists of a mix of cash and Embracer B shares. Current management will remain in their current roles and are incentivized through earnout-components lasting for 3 and 7 years respectively. The terms and conditions for the acquisition is in line with previous Embracer transactions.
Completion of the transaction
The transaction was completed as of 5 July 2021.
Advisers
Ernst & Young AB is providing transaction support and Baker McKenzie is acting as legal counsel to Embracer in the transaction.
For additional information, please contact:
Lars Wingefors, Co-founder and Group CEO of Embracer Group AB
Tel: +46 708 47 19 78
E-mail: lars.wingefors@embracer.com
Klemens Kundratitz, CEO of Koch Media
E-mail: kundratitz@kochmedia.com
Richard Stitselaar, CEO of Vertigo Games
E-mail: richard@vertigo-games.com
Arthur Houtman, CEO of Force Field
E-mail: houtman@forcefield.com
About Embracer Group
Embracer Group is the parent company of businesses developing and publishing PC, console and mobile games for the global games market. The Group has an extensive catalogue of over 240 owned franchises, such as Saints Row, Goat Simulator, Dead Island, Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters, Satisfactory, Wreckfest, Insurgency, World War Z and Borderlands, amongst many others.
With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its eight operative groups: THQ Nordic GmbH, Koch Media GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest, Saber Interactive, DECA Games, Gearbox Entertainment and Easybrain. The Group has 69 internal game development studios and is engaging more than 7,000 employees and contracted employees in more than 40 countries.
Embracer Group's shares are publicly listed on Nasdaq First North Growth Market Stockholm under the ticker EMBRAC B with FNCA Sweden AB as its Certified Adviser; info@fnca.se +46-8-528 00 399.
Subscribe to press releases and financial information: https://embracer.com/investors/subscription/
For more information, please visit: https://www.embracer.com
Webcast presentation for investors, analysts and media
Representatives from Embracer Group and Force Field will participate in a webcast presentation today at 09.00 CET. Invitation and details for participation will be sent out by a separate press release.
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