Embracer Group has announced its acquisition of Crystal Dynamics, Eidos Montreal, and Square Enix Montreal from Square Enix. This acquisition also includes several intellectual properties, including Tomb Raider, Deus Ex, Thief, Legacy of Kain, and more than 50 of the developer’s older titles. Embracer Group also states that the acquisition “brings a compelling pipeline of new installments from beloved franchises and original intellectual property, including a new Tomb Raider game.” According to Embracer Group, the total agreed purchase price for the acquisition is $300 million on a cash and debt-free basis, to be paid in full. The transaction is expected to close between July and September 2022.
Additionally, Square Enix announced that development functions will now just comprise of its studios in Japan, Square Enix External Studios and Square Enix Collective. Franchises such as Just Cause, Outriders, and Life is Strange will continue to be published by its overseas studios. The publisher stated that the transaction will enable the start of new businesses involving investments in fields such as blockchain, artificial intelligence, and the cloud.
Embracer Group co-founder and CEO Lars Wingefors commented on the announcement, saying:
“We are thrilled to welcome these studios into the Embracer Group. We recognize the fantastic intellectual property, world class creative talent, and track record of excellence that have been demonstrated time and again over the past decades. It has been a great pleasure meeting the leadership teams and discussing future plans for how they can realize their ambitions and become a great part of Embracer.
Square Enix America and Europe CEO Phil Rogers:
“Embracer is the best kept secret in gaming: a massive, decentralized collection of entrepreneurs whom we are thrilled to become a part of today. It is the perfect fit for our ambitions: make high-quality games, with great people, sustainably, and grow our existing franchises to their best versions ever. Embracer allows us to forge new partnerships across all media to maximize our franchises’ potential and live our dreams of making extraordinary entertainment.”