Embracer is considering options for its U.S. game developer Gearbox Entertainment, including a sale, three people familiar with the matter told Reuters, as Europe's largest games company seeks to shore up its finances.
The maker of the “Tomb Raider” video game is working with Goldman Sachs and Area & Co to explore a sale, they said.
Embracer is weighing selling the unit best known for first-person shooter Borderlands after receiving interest from third parties, two of them said.
Officials at Embracer and Goldman Sachs declined to comment. Aream did not respond to a request for comment.
After the news came out, Embracer’s stock price turned higher, rising by up to 5%. By 10:30 GMT, the share price's gains had subdued, but were still up 2.1%.
In June this year, Embracer announced a restructuring to reduce its net debt from 16.7 billion Swedish kronor at the end of June to less than 10 billion Swedish krona (approximately US$903 million) at the end of this fiscal year. The plan includes studio closures, project cancellations and layoffs in what CEO Lars Wingefors called a "challenging year" for the company.
Visit the purchase page:
Game peripherals self-operated area