Embracer Group, through subsidiary Saber Interactive, entered into an agreement to acquire 100 percent of the shares in Mad Head Games.
The company, based in Belgrade and Novi Sad, Serbia, is an independent game developer led by three founders with a team of 130 people across four offices.
Mad Head Games was founded in 2011 by Nenad Tomić, Uroš Banješević, and Aleksa Todorović, all three having more than 15 years game development experience.
The acquisition will strengthen Embracer’s presence in Eastern Europe with the first studio operating in Serbia.
Mad Head Games will continue to operate as an independent game developer under Saber, with continued leadership by the three founders.