Project Golden Arc to acquire Arc Games and Cryptic Studios from Embracer for $30m.

Project Golden Arc, a holding company that owns and manages video game studios, agreed to acquire Arc Games, a publisher of online multiplayer, AA, and indie games, and Cryptic Studios, a game development studio, from Embracer, a global group of entrepreneurial businesses in the gaming and entertainment industry, for $30m. "This transaction supports our key priorities by strengthening our focus on strategic assets and core IPs in Embracer while improving profitability and free cash flow. The deal also allows online multiplayer game Fellowship, developed by a talented external team in Stockholm, to find a great home within Coffee Stain Group. I would like to thank the teams at Arc and Cryptic for their hard work over the past four years and wish them all the best as we are confident they will thrive and develop in the years ahead,” Phil Rogers, Embracer CEO.