It was a bit surprising to hear but Embracer Group has acquired Crystal Dynamics, Eidos-Montreal, Square Enix Montreal and a list of other IPs from Square Enix for $300 Million. Titles such as Deus Ex, Thief, Tomb Raider and more are part of a total of around 50 games being picked up in the deal.
Lars Wingefors, co-founder and Group Ceo of Embracer group stated, “We are thrilled to welcome these studios into the Embracer Group. We recognize the fantastic IP, 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 has sold its entire western game development studios in this deal with Embracer Group. The new Tomb Raider title which is currently in development is one of the biggest parts of this deal. The sale should be completed between July and September of this year.
Where will Lara Croft’s journey take her next?
Find out in the next @TombRaider game from @CrystalDynamics, powered by Unreal Engine 5. #UE5 pic.twitter.com/pXtTA74K7o
— Unreal Engine (@UnrealEngine) April 5, 2022
It looks like the sale is going to allow Square to get more into investments that include blockchain, AI, and the cloud. In the same press statement Square stated, “Going forward, the company’s development function will comprise its studios in Japan, Square Enix External Studios, and Square Enix Collective. The Company’s overseas studios will continue to publish franchises such as Just Cause, Outriders, and Life is Strange.”
