Saudi Arabia continues to invest in the video game world. And, this time, it’s Embracer’s turn to be concerned.
Created with a desire to find resources other than oil revenue (plan Vision 2030), the Saudi Arabia Public Investment Fund (PIF) – not always well received because of its positioning vis-à-vis human rights – has been moving for some time in the field of video games. In fact, the body overseen by the Crown Prince Mohammad bin Salman has already provided funds in various companies in the industry: Capcom, Nintendo or even SNK are among the investments made so far. Now, another name, which we heard about recently, is adding his name to the list.
Saudi Arabia becomes Embracer’s second largest shareholder
A little over a month ago, Embracer was on the front of the video game scene with its declaration regarding the acquisition of the western branch of Square Enix. With it, the Swedish group logically acquired the licenses of great renown such as Deus Ex or Tomb Raider. Series for which he seems to have projects. But, as far as that is concerned, we will wait. For now, back to the main info.
By investing a sum of a little more a billion dollarsvia Savvy Gaming Groupthe PIF acquired 8% Embrace, making Saudi Arabia the company’s second largest investor. The CEO of the Swedish company (Lars Wingefors) sees in this situation a certain opportunity. Here is what he said in particular:
Our relationship with Savvy Gaming Group will allow us to establish a regional hub in Saudi Arabia, from which we can make investments throughout the MENA region, whether organically, through partnerships, joint ventures or through acquisitions. companies led by strong entrepreneurs.