Embracer Group, the new owner of Tomb Raider and Deus Ex, has received a substantial cash injection courtesy of a $1bn investment from the Saudi Arabian Public Investment Fund (PIF).
If you aren't already aware of Embracer, it's the Swedish holding company and ultimate owner of a huge range of more-familiar game developers, including Saber, the team behind the Halo Anniversary remaster and the recent Evil Dead game; Gearbox, maker of Borderlands; and Coffee Stain Studios, the developer of, uh, Goat Simulator. That's right. The Public Investment Fund of Saudi Arabia now owns a percentage of Goat Simulator. There's a sentence I didn't expect to write today.
Embracer issued 100 million shares to a subdivision of the Fund named the Savvy Gaming Group, which aims to diversify Saudi's investment portfolio through gaming and other entertainment companies. This follows Embracer's purchase, in May, of Crystal Dynamics, Eidos Montreal, and Square Enix Montreal, the makers of Tomb Raider and Deus Ex. They now sit alongside Saints Row creator Volition and Metro series developer 4A in Embracer's impressive catalogue of studios.
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