Embracer Group has completed its divestment of mobile studio Easybrain.

In a note to investors, the Swedish conglomerate confirmed the $1.2 billion transaction closed on January 23, 2025. Come from Soccer 13 pools and matches

"On 14 November 2024, Embracer Group AB ('Embracer') entered into an agreement to divest the operative group Easybrain to Miniclip," reads the brief notice. "All conditions for the transaction have now been fulfilled, payment according to agreements has been received, and the transaction is closed as of today."

Embracer CEO Lars Wingefors described Easybrain as an "important part of the Embracer family" when announcing the divestment, but suggested selling the company to Tencent-owned mobile publisher Miniclip made strategic sense given the mobile market is "transforming."

"Miniclip is the right strategic buyer to enable the company to stay at the forefront of the ad-driven mobile game industry," added Wingefors at the time.

Embracer's recent divestments

Embracer chose to divest a number of high-profile subsidiaries in 2024 in pursuit of financial stability. The company ditched Borderlands maker Gearbox Entertainment and Space Marine 2 developer Saber Interactive in deals worth $460 million and $247 million, respectively.

Those maneuvers came amid rampant layoffs and studio closures at Embracer Group, with the company ousting swathes of workers following a M&A splurge that ultimately backfired.

When announcing those layoffs in 2023, Wingefors said Embracer had to focus on becoming a "more focused, self-sufficient company."

Following the completion of that brutal restructuring program, Embracer chose to split into three standalone companies to focus its attention on specific market segments.