[shakna]

Embracer started out as Nordic Games.

They ran around buying and gutting every IP they could get their hands on. Nordic became THQ Nordic, whilst continuing to eat everyone around them, whilst also nearly going bankrupt multiple times, before eventually ditching the name because investors didn't like people noticing just who they were.

They are the group that ate Dark Horse, CoffeeStain, Gearbox, Square Enix, Saber Interactive and so many more.

Today, they are majority-owned by Saudi Arabia's Public Investment Fund.

[bitwize]

Square Enix is still independent. They've got their fingers in so many pies, they're almost in the "too big to fail" category.

The SE-Embracer connection is that SE spun off Crystal Dynamics and its properties like Tomb Raider, selling them to Embracer Group.

[biglyburrito]

lol they absolutely are NOT too big to fail