Embracer Group, which recently purchased Dark Horse Comics, has acquired several studios and assets from Square Enix. Eidos-Montreal, Crystal Dynamics, Square Enix Montreal, and other IPs are now a part of the Embracer family. Game franchises include Tomb Raider, Deus Ex, Thief, Legacy of Kain, and “more than 50 back-catalogue games.” The total sale price is $300 million.
The deal is expected to be completed between July and September of 2022.
While it may seem like Embracer Group is acquiring these studios for an overly low price, it’s important to contextualize what they’re buying. While Tomb Raider has enjoyed critical acclaim recently, Square Enix often called its revenue a disappointment.
Crystal Dynamics, who is now part of Embracer Group, will continue to work on Perfect Dark alongside The Initiative.
”We are thrilled to welcome these studios into the Embracer Group,” says Laws Wingefors, the Co-founder and Group CEO of 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.”
Phil Rogers, CEO of Square Enix America and Europe, calls Embracer Group the “best kept secret in gaming.”
“Embracer allows us to forge new partnerships across all media to maximize our franchises’ potential and live our dreams of making extraordinary entertainment,” Rogers continued.
This deal is one of many that have rocked the video game industry over the past year. On a more recent and smaller scale, Aspyr Media recently acquired MythForce developer Beamdog. Phil Spencer said back in October that Xbox is looking to acquire more studios. They followed that up with the Activision Blizzard acquisition. In January, Sony acquired Bungie and welcomed them into the PlayStation family. The Embracer Group deal is the latest in this line of purchases. I’d be shocked if it was the last.