Embracer Group Acquires Shiver Entertainment

Embracer Group has finalized the acquisition of Shiver Entertainment, a Miami-based game development studio founded in 2013. This strategic move integrates Shiver into the Saber Interactive business unit, bolstering the parent company’s development capabilities and expanding its footprint within the United States. Shiver brings a specialized focus on multi-platform game development, co-development, and porting services, supported by a team of 17 full-time employees and leadership with extensive industry experience.

The acquisition is driven by the need to scale Saber Interactive’s operational capacity and secure a pipeline of both porting projects and original intellectual property. Shiver is currently developing two original game titles, which are expected to contribute to the long-term growth of the business unit. The transaction includes a combination of cash and shares, alongside an earn-out structure spanning up to eight years, ensuring that the founding management team remains incentivized to drive future performance.

Financial projections indicate that the studio will provide immediate value, with an expected operational EBIT contribution of SEK 40–60 million for the 2022/2023 fiscal year, rising to SEK 70–90 million in the 2023/2024 fiscal year. The acquisition is anticipated to be accretive to adjusted earnings per share, reflecting Embracer Group’s broader strategy of acquiring profitable, founder-led studios to enhance its global development infrastructure. While specific transaction terms remain confidential, the integration positions Shiver to leverage Saber’s resources while maintaining its operational focus on high-quality cross-platform development.