Saudi Arabia's Savvy Games Studios is having a rebrand and becoming Steer Studios.

In the announcement, parent company Savvy Games Group says that this change in name is to help the developer carve out its own path in the games industry.

“The evolution of Savvy Games Studios to Steer Studios represents an exciting milestone in its journey," Savvy Games Group CEO Brian Ward (pictured) said.

"This major step forward will ensure Steer stands as a beacon of innovation, charting new territories within the gaming industry.”

Steer Studios CEO Yannick Theler added: “Steer Studios is driven by the desire to open new possibilities in the gaming world. Our dedicated team are our family and remain at the heart of our success. We will continue to nurture their growth, wellbeing, and creative freedom.”

As well as investing in and bolstering the Saudi Arabian industry, Savvy Games Group has become increasingly involved with companies around the world. This includes investments, such as the backing it gave Embracer Group, which clocked in at $1 billion. Reports say that the company was preparing to make a $2 billion deal with the Swedish games firm but pulled out at the last second.