en.wikipedia.org
TLDR went on a spending spree for studios, had a 2bn investment fall through, had to start selling/closing studios.
2011-2016 Nordic games
2016-2019 THQ Nordic games
2019-2024 Embracer group, starts gobbling up studios
Feb 2020 buys Saber interactive and 5 satellite studios for $525m
Feb 2021 buys Gearbox for $1.3bn
2020-21 buys a bunch of studios
May 2022 agreement to buy Crystal dynamics(Marvel Avengers), Edios Montreal, Square Enix Montreal
June 2022 gets $1bn investment from Saudi group.
Aug 2022 acquires Crystal dynamics, Eidos Montreal, Square Enix Montreal for $300m.
Oct 2022 makes verbal deal for $2bn investment.
Nov 2022 closes Square Enix Montreal in cost cutting.
May 2023 announces $2bn deal fell through. Stocks drop 40%
June 2023 starts large scale restructuring.
Nov 2023 lays off 904 employees, cancels 15 projects.
March 2024 sells Saber and it's satellites studios, 3D Realms, Bytex, Digic pictures, Fractured Byte, Mad Head Games, New World Interactive, Nimble Giant Entertainment, Sandbox Strategies, Slipgate Ironworks, SmartPhone Labs, and Stuntworks to Saber co-founder for $247m.
March 2024 sells Gearbox parts for $460m.