Swedish Video Game Company Embracer Group have announced that they have entered into an agreement to acquire Dark Horse Media. After being officially bought out, Dark Horse is set to become the tenth operative group of the Embracer group.
Dark Horse founder and CEO Mike Richardson will continue to lead the company together with existing management.
“I can’t express the excitement I feel as Dark Horse moves into this new chapter in our history. The synergies that exist with the Embracer network of companies promises exciting new opportunities not only for Dark Horse, but also for the creators and companies we work with. I’ve had a number of compelling conversations with Embracer CEO Lars Wingefors and I’m very impressed with him and what he and his team have built. I have to say, the future for our company has never looked brighter,” says Mike Richardson, founder and CEO of Dark Horse.
Dark Horse owns or controls more than 300 intellectual properties, many of which built upon strong foundations and carries with it the potential for future development across PC, console, VR, and mobile platforms.
On top of that, the acquisition strengthens Embracer’s transmedia capabilities in content development, comics publishing, and film/TV production.
Headquarted in Milwaukie, Oregon, USA, Dark Horse has entertainment offices in Los Angeles and has 181 employees across its three business units:
- Dark Horse Comics: The core business of Dark Horse is content creation, with comics publishing being the key expression of that content. Dark Horse publications include company owned titles, such as The Mask, Time Cop, Father’s Day, and Ghost; licensed titles, such as Star Wars, Avatar the Last Airbender, Stranger Things and Witcher; Japanese manga titles, such as Berserk, Lone Wolf & Cub, and creator-owned material, such as Big Guy and Rusty and Grendel. Dark Horse is also a leader in game art collections with books like the best seller The Legend of Zelda: Hyrule Historia.
- Dark Horse Entertainment: A production company founded in 1989, which has produced over 40 films and series, including the #1 box office hits The Mask and Timecop, the Hellboy films, and the critically acclaimed series The Umbrella Academy and Residen t Alien.
- Things From Another World: A unique retail concept offering a wide range of comics, graphics novels, toys, statues and other pop-culture related collectibles, and a philosophy to offer excellent customer service. Founded in 1980 and consisting of three retail locations and a rapidly growing e-commerce presence.
What exactly is the purchase price?
Due to commercial reasons the specific transaction terms are not disclosed. The transaction will be accretive to adjusted earnings per share.
What happens next?
80 percent of the shares of Dark Horse will be acquired from a seller based in Hong Kong and China. The remaining 20 percent of the shares will be acquired from founder and CEO, Mike Richardson and COO Neil Hankerson. Both are committed to stay within the company.
Post completion of the acquisition business will remain as usual and there is no planned restructuring.
The transaction is subject to certain closing conditions, including merger control approval, and is estimated to be completed early 2022.
Source: Press Release
