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Embracer sells a big chunk of Saber Interactive in a deal worth around $500 million

Embracer Group has sold a major chunk of Saber Interactive in a deal that's said to be worth around $500 million overall. Along with improving the company's bottom line, Embracer CEO Lars Wingefors says the agreement will protect "many developer jobs under new independent ownership."

As expected, the Embracer Group has sold much of Saber Interactive, which is known for the Metro series, Gloomhaven and remakes of classic Star Wars titles. Embracer is hanging onto 34 Big Things ( Redout), Shiver (which ported Mortal Kombat 11 to Switch), Snapshot ( Phoenix Point) and Aspyr, which is behind the recent remaster of the original Tomb Raider trilogy and Star Wars: Battlefront Classic Collection, which came out on Thursday. Since last summer, Embracer has been on a major cost-cutting drive after an expected investment of $2 billion(reportedly from a group backed by Saudi Arabia’s sovereign wealth fund) fell apart.

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