Embracer Acquires Tarsier Studios: Investor Presentation

Embracer Group has finalized the acquisition of Tarsier Studios, a Malmö-based developer, to bolster its portfolio of original intellectual properties. The transaction involves a total purchase price of SEK 99 million, consisting of SEK 88 million in cash and SEK 11 million in Embracer B shares, supplemented by a ten-year earnout provision capped at SEK 44 million for key staff. Following the acquisition, Tarsier Studios will operate as an autonomous entity within the Goodbye Kansas Game Invest sub-group, shifting its strategic focus toward developing and owning original IPs under the Embracer publishing umbrella.

Tarsier Studios brings a history of technical and creative proficiency, established in 2005 and currently employing over 60 staff members with an average of eight years of industry experience. The studio has built a reputation for high-quality puzzle-adventure titles, most notably the million-selling Little Nightmares, which achieved significant critical acclaim and multiple industry awards. Throughout its history, the studio has maintained successful collaborative relationships with major global publishers, including Sony, Nintendo, and Bandai Namco, contributing to high-profile franchises such as LittleBigPlanet and Tearaway.

The studio’s immediate operational roadmap involves completing existing external commitments, including the development of Little Nightmares 2 for Bandai Namco. Beyond these obligations, the transition to Embracer marks a pivot toward internal IP ownership and financing. By leveraging Tarsier’s proven track record in artistic design and game development, Embracer aims to scale the studio’s output of original content while integrating its creative talent into a broader, centralized publishing framework.