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Dubai News Club > Tech > Saudi group reportedly abandoned $2 billion deal with the Lord of the Rings game company
Tech

Saudi group reportedly abandoned $2 billion deal with the Lord of the Rings game company

Press Room
Last updated: 2023/08/14
Press Room
Published: August 14, 2023
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Embracer Group was forced to halt its breakneck pace of acquisitions after a mysterious partner left a $2 billion deal intended to drive its continued gaming ambitions. Now, we might know who the partner is: Axios reported today that Savvy Games Group is the party that backed out of the deal in May. Savvy is owned by Saudi Arabia’s sovereign wealth Public Investment Fund and is the vehicle through which the Middle Eastern country funnels investments in the video games industry.

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