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The studio was re-instated as Rainbow Studios in 2013 by Nordic Games (later known as THQ Nordic), a publishing company that had purchased most assets of the then-bankrupt THQ earlier that year. The studio is now independent.
Sep 11, 2023 · Rainbow Studios. The ongoing restructuring at Embracer Group has already affected several subsidiaries of the Swedish holding company. The latest report indicates that Gearbox Entertainment could also be in danger. What happened?
So, what happened? Short answer: Production Hell. Rainbow Studios kept pushing back the release date, then came Final Fantasy: The Spirits Within with the final nail in the coffin. For as bad as the script was, the visuals were spectacular and instantly made Blue Planet look extremely dated. Some time in the early Aughts, Rainbow Studios ...
Apr 8, 2024 · Not bad blood, says Karch. As he tells it, Saber is leaving Embracer on “very good terms,” and he’s effusive in his praise of Embracer CEO Lars Wingefors, repeatedly calling him “a really ...
- Rebekah Valentine
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- UPDATE: Crystal Dynamics' Tomb Raider and Perfect Dark work safe for now.
- Every Notable Embracer Group Acquisition
By Wesley Yin-Poole
Updated: Jun 13, 2023 2:43 pm
Posted: Jun 13, 2023 9:20 am
Embracer Group has announced plans to close studios, cancel games, and lay staff off just weeks after a $2 billion contract deal fell through.
In an open letter to the company’s 17,000 staff, CEO Lars Wingefors said Embracer will decrease spending across the board, reduce third-party publishing, and “put greater focus on internal IP and increase external funding of large-budget games”.
“This morning we announced a restructuring program across the Embracer Group that will make us a leaner, stronger and a more focused, self-sufficient company,” Wingefors said.
The partnership supposedly involved "many of the highest rated global advisories onboard with several hundred people engaged on both sides" and final paperwork was even finalised the night before the company's latest financial report was due out.
The day after, in a video call announcing the company’s financial report, a visibility shaken Wingefors struggled to explain the catastrophic impact the collapse of the deal would have on the company. Now, we are seeing that impact.
“Embracer currently engages close to 17,000 people and while that number will be lower by the end of the year, it is too early to give an exact forecast on this,” Wingefors said.
“It is painful to see talented team members leave. Our people are what make up the very fabric of Embracer. I understand and respect that many of you will be worried about your own position and I don’t have all the answers to all questions. I want to be clear that the decisions about this program were not taken lightly.”
"I want to be clear that the decisions about this program were not taken lightly."
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- Wesley Yin-Poole
Sep 11, 2023 · September 11, 2023. 3 Min Read. Embracer Group's ongoing restructuring efforts have seemingly resulted in layoffs at MX vs ATV Legends developer Rainbow Studios. Linkedin posts from multiple former Rainbow employees indicate the Phoenix-based studio has been downsized as Embracer attempts to steady the ship after declaring its M&A era is ...
Rainbow Studios is an employee owned independent game developer with a rich history of critically acclaimed motorsport titles. We've built a studio that brings focus back to its employees and the players who enjoy the worlds we work hard to build. To us, creativity, family, and work-life balance are more than just words.
