Embracer Group has today announced it has entered an agreement with Square Enix to purchase studios Crystal Dynamics, Eidos Montreal and Square Enix Montreal, as well as IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 back-catalogue games for a bargain price of AU$425,529,000 (US$300 million). The deal, which will include 1,100 employees, is expected to be finalised during the second quarter of Embracer’s financial year 22/23 (July-September 2022).
CEO and co-founder of Embracer Lars Wingefors had this to say on the company’s latest acquisition:
“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.”
Once the deal is closed, Embracer will boast a portfolio that includes Koch Media/Deep Silver, THQ Nordic, Gearbox Software, and Saber Interactive with over 120 studios.
Crystal Dynamics only recently announced the next entry in the Tomb Raider series, which will utilise Unreal Engine 5, while Eidos Montreal worked on the much lauded Marvel’s Guardians of the Galaxy.
Square Enix said that the sale of these assets will allow the company to move forward with “investments in fields including blockchain, AI, and the cloud.”
Given that Embracer US$1.3 billion for Gearbox Software and Borderlands, this latest purchase looks like an absolute bargain.
Embracer and its companies have revived dormant IPs in the past, so a lot of fans will be hoping that Embracer brings Deus Ex back, while I have my fingers crossed for a new Thief.
What do you make of Embracer’s latest acquisition? Let us know in the comments or on social media.