Founded back in 2011 as Nordic Games Holding, one of Embracer Group's most well-known tendencies was to buy, buy and buy some more stuff. I mean, just look at this:

https://en.wikipedia.org/wiki/List_of_acquisitions_by_THQ_Nordic
https://en.wikipedia.org/wiki/List_of_mergers_and_acquisitions_by_Embracer_Group

But this spending spree might be coming to an end. Perhaps the writing was on the wall last year, when Embracer shut down Square Enix Montreal, not even 3 months after completing their acquisition. In any case, following a 2 billion deal-gone-sour that led to their market stock being wiped out by 44% three weeks ago, Embracer has now announced the magical word that employees around the world love to hear: "restructuring". Alongside layoffs, there will also be studio closures and cancellations of unannounced games (maybe the rumoured new Deus Ex won't see the light of day, after all).

Sources:
https://www.gematsu.com/2022/11/embracer-group-shuts-down-onoma-formerly-square-enix-montreal-one-month-after-rebranding
https://www.pcgamesinsider.biz/news/73825/embracer-stock-drops-44-as-unannounced-partnership-falls-apart/
https://www.gematsu.com/2023/06/embracer-group-announces-large-scale-restructuring-program-including-layoffs-studio-closures-and-game-cancellations

And to think that there are still some "Business Geniuses" around (I know a few of them) who truly belive in the concept of "Infinite Growth"...

At the same time this could also be good news for GoG, as the studios/publishing subsidiaries under the Embracer umbrella that so far have been ignoring GoG may be told to release their offerings DRM-free on here as well, as soon as possible.

I wonder what poindexter came up with the name Onoma

Wonder if it there was some issue with the studio itself given that they were shut down after being acquired so quickly. They were mostly in charge of mobile games so maybe were acquired as part of the deal to get the IPs only.

True. Could have been they didnt know and thought they could make some good or even great games but upon the initial test run, decided to just cut their losses.

I dont really like my theory either to be honest because Embracer did spend a decent penny (although they did pick up amazing IPs for literally pennies on the dollar. No idea what Square Enix is thinking there to be honest. Its not like their Hitman or Tomb Raider games were bad either).

Could have been a packaged deal for Square to downsize and get rid of a loss asset so Embracer was forced to take it. The decision is affecting 200 employees so its not like they are closing the studio but keeping the assets. Embracer is also apparently involved in a cost-cutting initiative (to recuperate from their shopping spree) and are also pivoting away from mobile games to focus only on console and PC so keeping Montreal as is doesnt really make sense to them.

https://www.eurogamer.net/embracer-group-shuts-down-former-square-enix-montreal-studio

Pfft. So much for long-term planning. "Buy, buy, buy, and hope for the best!" never was a very good strategy.

THQ Nordic, looking at their list of games am wondering if GOG will ever get Keepsake and Nibiru - Age of Secrets.

someone who knows latin or greek? it is kinda funny

Keepsake is self-published on Steam, nothing to do with THQ as it seems. As for Nibiru, not sure if they still have the rights for it. ;)

Thanks Triock

Considering their history, the name "Embracer" always struck me as creepy.

Worked for EA. Buy licenses to major sports organizations, establish monopolies on sports games and profit.

But yeah, reckless buying is good for short term stock rises but does not necessarily equate to long term growth and often requires cost cutting for a good while to rebalance the checkbook. See Disney struggling for money after their shopping spree (which was stupid imo. Buying Fox was a mistake).