European games giant Embracer has announced it has bought World War Z developer Saber Interactive for as much as $525m.

The firm has agreed to pay out $150m initially, with a maximum of $375m being paid out based on performance.

“Saber has been on our radar for a very long time because of their deep history of consistently high-quality work,” said CEO Lars Wingefors (pictured) said in a statement to Reuters.

Saber is the latest company that THQ Nordic has bought. Other recent additions include Milestone, Gunfire and investment firm Goodbye Kansas, which has rebranded as Amplifier Game Invest.

The company has also announced that investment vet David Gardner has joined Embracer's board. In the past, he has held roles at both EA and Atari and in 2010 he founded VC London Venture Partners.

"Over the past few years, I've watched Embracer Group making a positive impact in the games market and I’m really happy to bring my experience to the company as they continue and accelerate their plans," Gardner said.

Chair of the board Kicki Wallje-Lund added: ”We give David a sincere welcome to the board of directors. His unique experience will be very valuable to Embracer Group as we continue to grow and expand the scope of the company and our offering."