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THQ Nordic parent company Embracer Group has acquired World War Z developer Saber Interactive for an initial $150 million.
The value of the deal could rise to $525 million, with Embracer agreeing to an earn-out consideration of $375 million based on the fulfilment of certain milestones.
Founded in 2001 and based in Maplewood, New Jersey, Saber currently employs 590 internal developers across studios in Russia, Spain, Portugal, Belarus, and Sweden.
As well as developing World War Z, Saber is also known for creating the Switch ports of The Witcher 3 and Vampyr, and has worked on other notable franchises including Halo, Quake, and NBA.
Embracer CEO and founder Lars Wingefors explained the company has been keeping tabs on Saber for some time, and has been particularly impressed with its self-funded projects like World War Z.
"Saber has been on our radar for a very long time because of their deep history of consistently high-quality work. Their ambitious moves towards self-funding projects in recent years have been particularly impressive, especially with World War Z, which sold more than three million units," he commented.
"While Saber will remain a standalone company within Embracer Group, we look forward to collaborating with them to elevate their ability to create and market premier titles."
The deal is expected to be completed during the second quarter of 2020, after which point Saber will be fully consolidated into the Embracer Group.