The Embracer Group has announced plans to split into three companies.
The gaming juggernaut has been fraught with financial difficulties over the past year and it has now confirmed that it will be dividing into three companies: Middle-earth Enterprises and Friends, Asmodee Group and Coffee Stain and Friends.
In a statement released on their website, Embracer’s CEO Lars Wingefors said: "This move has been made with the intention to unleash the full potential of each team and provide them with their own leadership and strategic direction.
"This is the start of a new chapter, a chapter that I intend to remain part of as an active, committed, and supportive shareholder of all three new entities, with an evergreen horizon.
"This move towards three independent companies reinforces Embracer’s vision of backing entrepreneurs and creators with a long-term mindset, allowing them to continue to deliver unforgettable experiences for gamers and fans across the globe."
The gaming conglomerate also detailed what each of the three companies will offer.
Embracer said that Middle-earth Enterprises and Friend would be a "creative powerhouse in AAA game development and publishing for PC and console, as well as the stewards of ‘The Lord of the Rings’ and ‘Tomb Raider’ intellectual properties, among many others", while Asmodee will become "a global leading tabletop games publisher and distributor with an extensive studio network and I.P. catalogue".
The business also described Coffee Stain and Friends as a "diverse gaming entity with a dual focus on indie and A/AA premium and free-to-play games for PC/console and mobile, with a high degree of recurring revenues."
