Leveling up: Embracer's acquisition spree takes it to top of European games business

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By Supantha Mukherjee
KARLSTAD, Sweden (Reuters) – In a quiet corner of the town of Karlstad, 300 kilometres from Stockholm, a Swedish entrepreneur has built Europe’s largest gaming company by market value – although most gamers have never likely heard of it.
Working out of an unassuming apartment building, Lars Wingefors’ Embracer Group, with a team of fewer than 20, has grown by acquisition. Its catalogue already includes games as diverse as survival game Valheim, racing game MX vs ATV, and Goat Simulator.
And Embracer, which has bought more than a dozen companies during the coronavirus pandemic alone, is not done yet, Wingefors told Reuters in a recent interview.
Many gaming companies prospered during the pandemic as people locked in their homes turned to their screens. Embracer did even better …

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