- Embracer, Europe's largest gaming company, has attracted criticism from hedge funds over its accounting practices and light-touch approach to integrating newly acquired businesses.
- The company has grown through a four-year acquisition spree, gaining interests in multiple studios, intellectual property, and board games.
- Sales have increased almost hundredfold, from SKr178mn ($17mn) in 2014 to SKr17bn ($1.64bn) last year.
- Embracer's adjusted profits have generated criticism as they do not take into account the expenses of paying acquired business owners.
- The company is seeking to attract more international investors and is considering spinning off some units.
Embracer: gaming ‘roll-up’ battles claims of aggressive accounting
Lars Wingefors created Europe’s biggest gaming company with an acquisitive strategy that has attracted short sellers
Dan McCrum
