https://safirsoft.com Sweden's video game CEO nearly doubles his fortune in just one year, from $1.4 billion to $2.4 billion

Lars Wingfors started his business selling comic books by mail. Since then, he has raised $2.4 billion as founder, co-owner and CEO of the Swedish Embracer Group. The company owns eight major video game publishers, 69 studios, and 240 game consoles. It is currently financially larger than Ubisoft and is worth $13 billion.

Swedish game developer Embracer Group AB (formerly THQ Nordic AB) may not ring the bell for some, but it is creating big waves in European integration and ownership. The company acquired 27 studios last year alone, worth $13 billion, overtaking rival Ubisoft. The company even managed to outpace trading firms such as Swedish investment firm Lifco, which conducted just 16 mergers last year. Wingfors saw a 35 percent increase in the company's stock from $1.4 billion last year to $2.4 billion at the end of March -- up more than 71 percent from a year ago.

https://safirsoft.com The Swedish video game CEO nearly doubled his fortune in just one year from $1.4 billion to $2.4 billion

Although the Embracer brand may not get much attention, some of the 69 development studios and publishers are well known in the gaming industry, including THQ Nordic, Saber Interactive, and Deep Silver and will. Two deals closed recently in February, in which it acquired Gearbox Entertainment and Aspyr Media. Embracer has more than 7,000 employees in 45 different countries.

Although the company's financial position appears very prominent, Bloomberg notes that growth through mergers and acquisitions can be dangerous. Embracer failed to launch a trilogy in 2020 and contributed significantly to popular "level two" games to maintain revenue.

"A huge risk to non-metallic growth stories in the gaming industry, what always happens when their goals are achieved - can they grow naturally?" said Matthew Kanterman, technology analyst at Bloomberg Intelligence. "I don't think we're still at that point with Embracer, but it's an issue that needs to be addressed down the road."

While it may be difficult to see what the Embracer's "bottom of the road" is further into the future, its short-term goals are clear. The company is currently seeking a listing on the NASDAQ Stockholm stock exchange to exit its home market. It is also looking at double listings in other markets, but Embracer did not specify them. Both steps provide more capital to secure future mergers.

Sweden's video game CEO nearly doubles his fortune in just one year, from $1.4 billion to $2.4 billion
sweden-s-video-game-ceo-nearly-doubles-his-fortune-in-just.html

https://safirsoft.com Review: The Green Knight weaves a deceptively imaginative attempt into adulthood

Review: The Green Knight weaves a deceptively imaginative attempt into adulthood

Joey David Lowry's movie has as much texture and layer as the original poem. It is the second after the Quest for the Holy Grail. However, I would arg...
https://safirsoft.com Fuse Problems contains instant answers to the facts regarding the Steam antitrust case

Fuse Problems contains instant answers to the facts regarding the Steam antitrust case

The valve says it is "not obligated" to allow vapors to be "under steam" with the free switches.

...
https://safirsoft.com Stray is an interesting cat simulation game coming to PlayStation and PC early 2022

Stray is an interesting cat simulation game coming to PlayStation and PC early 2022

American video game publisher Annapurna Interactive and French developer BlueTwelve shared the first game Stray, a game where you literally play as a ...
https://safirsoft.com Microsoft pulled Forza Motorsport 7 from online stores after September 15

Microsoft pulled Forza Motorsport 7 from online stores after September 15

Despite having an advanced successor, Microsoft has announced that Forza Motorsport 7 and DLC will soon be phased out from the MS Store and will not b...
https://safirsoft.com Put 10 million PS5 sales in the text

Put 10 million PS5 sales in the text

On the "Racing Up to 10 Million" consoles, the PS5 is second only to the Wii for 248 days.

...
https://safirsoft.com Until September, Xbox will not have Forza Motorsport on sale

Until September, Xbox will not have Forza Motorsport on sale

This time around, the "expired" song and dance are usually weird.

Microsoft has long prided itself on backwards compatibility for its Xbox co...