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The transformation of the Embracer Group into [three separate entities](https://www.gamesmarkt.de/business/splitting-up-embracer-group-to-be-split-into-three-parts-c3768bfb67645abdb0fc065959789e80) affects the GSA companies Deca (Berlin), [Plaion](/company/plaion) (Munich/Höfen), and [THQ Nordic](/company/thq-nordic) (Vienna). Deca and THQ Nordic will be part of Coffee Stain & Friends (WT), Plaion will be part of Middle-earth Enterprises & Friends (WT).

"Coffee Stain & Friends" (WT) will be gaming company with a focus on indie, A/AA premium and free-to-play games for PC, console and mobile. Premium PC/console operations will include among other Coffee Stain, Ghost Ship, Tarsier, Tuxedo Labs, as well as THQ Nordic and Amplifier Game Invest. Intellectual properties include Deep Rock Galactic, Goat Simulator, Satisfactory, Wreckfest, Teardown, Valheim (IP owned by Iron Gate AB, part-owned by Coffee Stain), as well as more than 200 other IPs. Free-to-play operations will include Easybrain, Deca, CrazyLabs and Cryptic with IPs like Sudoku.com, Blockudoku, Jigsaw Puzzle and many other IPs as well as licensed IPs Star Trek Online and D&D Neverwinter Online. "Coffee Stain & Friends: Net sales of SEK 10.9 billion (940 million Euros), adjusted EBIT of SEK 2.8 billion (241 million Euros) on a pro forma basis according to LTM December 2023.

Embracer Group: "For "Coffee Stain & Friends", Anton Westbergh, current CEO of the operative group Coffee Stain, will take the leading role in the process leading up to the separation. The Operative Group CEOs of DECA Games, Easybrain, Amplifier Game Invest and THQ Nordic will report to Anton Westbergh starting April 22, 2024."

"Middle-earth Enterprises & Friends" (WT) will focus on AAA game development and publishing for PC and console. The company will also be responsible for managing the Lord of the Rings and Tomb Raider franchises, to name just a few. It will be the home of Crystal Dynamics, Dambuster Studios, Eidos-Montréal, Flying Wild Hog Studios, Tripwire, Vertigo Games, Warhorse Studios and 4A Games among many others. IPs includes Dead Island, Killing Floor, Kingdom Come Deliverance, The Lord of the Rings, Metro and Tomb Raider. The new group will include Plaion, Freemode, Dark Horse and other businesses. "Middle-earth Enterprises & Friends: Net sales of SEK 14.1 billion (1.22 billion Euros), adjusted EBIT of SEK 2.0 billion (172 million Euros) on a pro forma basis according to LTM December 2023.

Embracer Group: "For "Middle-Earth Enterprises & Friends", Phil Rogers will take the leading role in the process leading up to the separation. Phil Rogers is currently interim Group Chief Strategy Officer, with responsibility for the concluded restructuring program, and CEO of the operative group Crystal Dynamics – Eidos. The Operative Group CEOs of PLAION, Dark Horse and Freemode will report to Phil Rogers starting April 22, 2024."

Asmodee is a international publisher and distributor of board games, trading cards and digital board games with 23 fully owned studios and 300+ IPs and constitutes the Tabletop Games operating segment of Embracer Group. The catalog of 300+ owned IPs include the board games Ticket to Ride, Azul, Catan, Dobble, Exploding Kittens and an extensive number of distributed games and IPs." Asmodee is also developing a wide range of licensed tabletop games based on The Lord of the Rings, Marvel, Game of Thrones, Netflix, Lego and Star Wars, including the recent successful trading card game release of Star Wars: Unlimited."

For the last twelve months (LTM) to December 2023, Asmodee generated net sales of SEK 14.8 billion (1.28 billion Euros), adjusted EBIT of approximately SEK 1.9 billion (164 million Euros) and free cash flow after working capital of approximately SEK 2.1 billion (181 million Euros).

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New Parent Companies for Deca, Plaion and THQ Nordic