Swedish Embracer is getting rid of its subsidiary Easybrain, announces the game conglomerate.
The buyer is Miniclip, owned by the Chinese tech giant Tencent, and the purchase price is equivalent to 12.9 billion kronor. The sale is motivated, among other things, by the fact that it strengthens the conglomerate's finances.
Easybrain develops simpler games for mobile phones and was acquired by Embracer at the beginning of 2021.
Embracer is simultaneously releasing its quarterly report, which shows that revenues fell by 21 percent to 8.6 billion kronor for the third quarter, "mainly due to few new launches and a mixed reception of certain launches within PC/Console".
The operating profit landed at 468 million kronor, compared to a loss of 836 million during the same period last year.
