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Embracer Group cuts itself into pieces, this is its last resort: Bifurcation, new listing—licensing out Kain and…

Embracer Group is splitting into two separate companies to improve focus and value creation. One entity, Fellowship Entertainment, will house studios like 4A Games and Crystal Dynamics, managing IPs such as Tomb Raider and The Lord of the Rings. The remaining Embracer will include THQ Nordic and other studios, with properties like Biomutant and Wreckfest. CEO Lars Wingefors indicated a more active exploration of external partnerships for IPs like Saints Row and Legacy of Kain.

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