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Embracer Group

Nintendo Acquires Shiver Entertainment: What the Deal Means

Nintendo bought Shiver Entertainment for specialist porting and development expertise, not for the rights to the games the studio helped bring to market.

By VGSources Team 3 min read
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Nintendo announced on May 21, 2024, that it had agreed to acquire all outstanding shares of Shiver Entertainment from Embracer Group. The Miami-based studio is known for porting and co-development work, including work on Hogwarts Legacy and Mortal Kombat 1. Nintendo said Shiver would continue taking on commissioned projects for multiple platforms, including Switch. The purchase price was not disclosed.

What Nintendo announced

Nintendo’s May 21, 2024 notice described an agreement to acquire 100% of Shiver Entertainment, Inc.’s outstanding shares from Embracer Group AB. Once completed, the transaction would make Shiver a wholly owned Nintendo subsidiary. The agreement was subject to customary closing conditions, so the announcement date was not itself a stated closing date. Nintendo said the deal would have only a minor effect on its results for the fiscal year. Nintendo’s announcement did not disclose a purchase price.

What Shiver does

Founded on December 11, 2012, and based in Miami, Florida, Shiver’s stated business is porting and developing video-game software. Nintendo’s announcement listed John Schappert as the studio’s CEO at the time. Embracer had earlier characterized Shiver as a team focused on development, co-development, and porting projects across platforms and genres. Embracer’s 2021 announcement said the studio had nearly 20 people at that time; that historical figure does not establish its headcount when Nintendo acquired it.

Its work on well-known games

Nintendo identified Hogwarts Legacy and Mortal Kombat 1 as games Shiver had worked on through porting and development. That is a contribution credit, not ownership of either game or its franchise. Shiver’s significance to Nintendo is its technical and production experience, particularly adapting games across platforms—not a portfolio of blockbuster intellectual property that Nintendo was buying.

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Why Nintendo wanted the studio

Nintendo said it wanted Shiver’s experienced development team to secure resources for porting and developing software. The clearest reading is that this was a targeted capacity acquisition: Nintendo brought a specialist team in-house while adding to the company’s ability to support commissioned and multiplatform development. It was not an acquisition of a major publisher or a game franchise.

This also fits Nintendo’s broader approach to studio growth. In a November 2024 investor presentation, Nintendo listed Shiver alongside Next Level Games, SRD, Nintendo Pictures, and Nintendo Systems as a development company added to its group in recent years. The company said its priority remained organic expansion and helping new employees understand Nintendo’s creative culture. The presentation did not give a separate closing date or transaction value for Shiver.

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Shiver was not announced as Nintendo-exclusive

Nintendo said Shiver would keep its existing focus and continue accepting commissions for software on multiple platforms, including Nintendo Switch. That is evidence against interpreting the purchase as an announced end to outside-platform work, but it is not a promise that every future project will ship on every system. Platform availability can depend on each publisher’s plans, contracts, and technical requirements; Nintendo named no specific post-acquisition projects.

The announcement likewise did not say the acquisition was for Switch 2, identify a successor-console project, or promise a particular port. Porting expertise could be useful to a future hardware strategy, but that is an inference, not Nintendo’s stated rationale.

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How Shiver moved from Embracer to Nintendo

  1. December 11, 2012: Shiver was founded, according to Nintendo’s company information.
  2. December 2021: Embracer acquired Shiver through its wholly owned subsidiary Saber Interactive; Shiver became a Saber subsidiary within the Embracer group. The transaction terms were not disclosed. Embracer’s transaction document records the acquisition as completed on December 16, 2021.
  3. March 2024: Embracer completed the divestment of selected assets from the operative group Saber Interactive. Shiver remained associated with the Embracer side of that separation. Embracer’s announcement describes the selected-asset divestment.
  4. May 21, 2024: Nintendo announced its agreement to acquire Shiver from Embracer.
  5. By November 2024: Nintendo’s investor materials listed Shiver among development companies added to its group. Nintendo’s current Shiver studio page also presents it as part of Nintendo.

The later Nintendo references establish that Shiver had joined the group by November 2024, but they do not supply a precise closing date.

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What the deal does—and does not—establish

  • Established: Nintendo acquired Shiver’s company from Embracer, adding a team with porting and development experience.
  • Not established: Nintendo did not acquire the rights to Hogwarts Legacy or Mortal Kombat, announce a new Shiver-owned franchise, or identify a Nintendo-exclusive game.
  • Not disclosed: The price, valuation, employee count transferred, revenue targets, cost synergies, and specific project pipeline.
  • Not confirmed: A particular Switch 2 role, port, or hardware-launch assignment.

The most defensible measure of the deal is therefore strategic capability rather than immediate financial impact: Nintendo added a specialist development resource, while describing the near-term effect on its fiscal-year results as minor.

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