The parent company of European publishing giant THQ Nordic Embracer Group has raised another kr1.6bn ($164m) in investment.

The firm completed this fundraising by issuing 18.5m Class B shares, with the aim of continuing its seemingly-endless acquisition strategy. This follows the purchase of World War Z developer Saber Interactive, which the company for as much as $525m. $150m was paid out in cash, with another $375m shelled out depending on performance.

That was only the latest in a long line of acquisitions that the company has made in the last decade. Some of the biggest have included the THQ name, Deep Silver parent firm Koch Media and Coffee Stain of Goat Simulator fame.

In February 2019, THQ Nordic raised $225m for M&A activity in the wake of the $168m in investment it secured in June 2018.

"Following the successful acquisition and closing of Saber Interactive, the Group is seeking to continue its strategy of successful acquisitions in order to complement its operations with new game publishers, development studios or other assets," the company wrote.

"The Group has since the announcement of Saber Interactive transaction on February 19, 2020 seen increased appetite from entrepreneurs within the gaming industry to engage in discussions with the Group and sees a growing list of acquisition targets, which are actively being reviewed and assessed. In order to be able to act fast when these attractive opportunities emerge, the Group aims to maintain its strong financial position through the Direct new share issue."