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Embracer sells off Arc Games and Cryptic Studios
Embracer has divested another two studios from its sprawling portfolio. Arc Games and Cryptic Studios have been purchas…
Embracer has divested another two studios from its sprawling portfolio. Arc Games and Cryptic Studios have been purchased by a new entity, Project Golden Arc, which is lead by members of the Arc Games management team and funded by Hong Kong firm XD Inc.
Arc Games is the publisher of live service games Star Trek Online, Neverwinter, and the Remnant series, along with Torchlight and Hyper Light Breaker. Cryptic Studios was the developer behind Neverwinter and Star Trek Online. The proceeds of the sale amount to $30 million (SEK 287 million), the company said.
As part of the deal, Embracer retains publishing rights to the Remnant franchise, developed by Gunfire Games, and rights for MMO Fellowship, developed by Chief Rebel and currently in Early Access. The latter will be assigned to Coffee Stain, which is planned to be spun out of Embracer in December.