Embracer Group acquires mobile game developer Easybrain for $640 million

Image Source: Embracer Group

Sweden based video game holding company Embracer Group has merged with Cyprus-headquartered mobile game developer Easybrain in a $765 million deal of which $125 million will be paid based on performance targets. 

As reported by VentureBeat, with the deal, owners Peter Skoromnyi, Matvey Timoshenko and Oleg Grushevich jointly become the third largest shareholder in the Emracer Group. Meanwhile, Easybrain will be Embracer’s 8th operative group. 

”I am excited to welcome Peter, Matvey, Oleg and the entire Easybrain team to the Embracer family. Easybrain is a highly diversified growth business with a market leading position in timeless puzzle and logic games.” said Lars Wingefors, Emracer Group Co-founder and Group CEO.” By joining forces with Easybrain, we have meaningfully accelerated Embracer’s mobile and free-to-play business”

”We are delighted that Easybrain merges with Embracer. We are extremely proud of the team that brought our business to what it is today, and now we feel it’s time to become part of something bigger,” said Oleg Grushevich. ”We are positive that our future efforts will contribute greatly to the group results and are excited to be part of such a great group of entrepreneurs under Lars’ leadership.”

Based in Cyprus and also has an office in Minsk, Belarus, Easybrain reported a calendar revenue of $210 in 2020 which is $99 million higher than the calendar revenue reported in 2019.

The mobile game developer has 12 million daily active users and 15 successful mobile puzzle games including Pixel Art: Color by Number, Groove Pad – Music & Beat Maker, Jigsaw Puzzles – Puzzle Game, Drum Pad Machine – Beat Maker & Music Maker and many more.  

This is the third acquisition Embracer announced this week. The company also announced deals with Gearbox Entertainment for $1.3 billion and Aspyr Media for up to $450 million. 

Written by Maya Robertson

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