Highlights | Industry News


21 Dec - 2021

Tags from the story: Asmodee, Embracer Group, PAI.

Confidential talks begin regarding Asmodee joining Embracer Group to create Europe’s largest gaming group

PAI and Embracer Group have begun confidential talks regarding Asmodee, one of the world’s leading board game developers, about joining Embracer Group, a parent company of several companies focused on developing and publishing PC, console and mobile games for the global gaming market.

Owned by PAI Partners as a majority shareholder since 2018, Asmodee sold more than 39 million games in 2020 globally. Through 22 owned studios and over 300 IPs, including Ticket to Ride (80 million players) and Dobble (85 million players), Asmodee has grown to become the largest independent global player in a growing and highly resilient board game market. Asmodee benefits from 25 years of unique experience in building long-lasting franchises and providing highly original content.

Asmodee and Embracer share a natural and strong bond in terms of strategy and culture, focused on creating the best games and most exciting experiences to bring to the general public across all relevant gaming platforms and media. This agreement would mark an evolutionary step in Embracer and Asmodee’s strategy and create Europe’s largest gaming group, with a leading market position in board games. Board games and video games are highly complementary and represent a long-term attraction for global consumers.

Through the combined strengths of Embracer’s 8 existing operating groups (THQ Nordic, Koch Media, Coffee Stain, Amplifier, Saber Interactive, Deca, Gearbox Entertainment, Easybrain), Asmodee’s franchises could accelerate their expansion into the world of video games, while Embracer Group’s franchises would benefit from Asmodee’s expertise in board game publishing and distribution. The combined forces and expected collaboration between the groups would bring large-scale impact in IP, distribution, technology, game development and transmedia projects.

The combined entities of Embracer Group and Asmodee would provide more than 100 game development studios and over 500 IP and brand properties, employing more than 11,300 people in over 50 countries.

Asmodee CEO Stéphane Carville and his management team would continue to lead the new operating group. Asmodee would continue to operate independently as before, with no reorganisation due to this transaction.

“I am excited about the plan to pursue our ambitious goals with Lars Wingefors and Embracer Group,” says Stéphane Carville, CEO of Asmodee Group. “Embracer and Asmodee share strong values focused on bringing together the best teams to provide our players with the best experiences on the planet.”

Gaëlle d’Engremont, Partner and Head of Food & Consumer at PAI Partners, says: “In close collaboration with the company’s management, over the past three years we have implemented a very ambitious strategy for Asmodee to make it an unquestionable leader in the exciting world of board games. For Amosdee, continuing its successful journey with the long-term support of Embracer, a leading player in the gaming industry, could be a unique opportunity.”

“I am delighted that we have made an offer to welcome Asmodee into our continuously growing group. Asmodee would become our ninth operating group, propelling Embracer to become a global, independent gaming eco-system with several market-leading positions, in line with Embracer’s successful strategy of building on passionate entrepreneurs and creators, with a decentralised operating model” adds Lars Wingefors, Co-founder and Group CEO of Embracer Group AB.

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