Embracer Group has announced they’re divesting or selling off Arc Games and Cryptic Studios as part of their ongoing restructuring.

The new agreement will see both Arc Games and Cryptic Studios sold off to Project Golden Arc with financing from publisher XD. The net cash agreement is estimated to be around $30 million.

As part of the agreement Embracer will retain publishing rights to the Remnant franchise as well as the multiplayer online game Fellowship, which will be part of the Coffee Stain Group label.

“This transaction supports our key priorities by strengthening our focus on strategic assets and core IPs in Embracer while improving profitability and free cash flow,” said Embracer CEO Phil Rogers in a press release. “The deal also allows online multiplayer game Fellowship, developed by a talented external team in Stockholm, to find a great home within Coffee Stain Group. I would like to thank the teams at Arc and Cryptic for their hard work over the past four years and wish them all the best as we are confident they will thrive and develop in the years ahead.”

The new transaction is expected to close soon pending regulator approvals.