Embracer Group Acquires Tomb Raider and Deus Ex Developers in New Deal
The deal will include more than 50 different Square Enix titles
The wave of acquisitions is still going on and it looks like it won’t abate for any long time, today it was revealed that Embracer Group’s deal to acquire a large portion of Western Square Enix studios for $300 million was revealed.
The deal will see The Embracer Group acquire Crystal Dynamics studios, Eidos Montreal and Square Enix Montreal, with a significant portfolio of titles including:
Legacy of Kain
The deal will also include more than 50 different titles from Square Enix. This also includes Marvel games from Square Enix such as Avengers and Guardians of the Galaxy, subject to license holder agreements.
The total acquisition includes approximately 1,100 employees across three studios in eight locations around the world. According to Embracer Group, the total purchase price will be $300 million, which will be paid in cash, direct and debt-free, as it will be paid in full upon closing of the deal, which is expected to take place in the second quarter of this fiscal year (between July and September 2022).
Square Enix said in a press release that the deal will enable them to launch new business by moving forward with investments in areas including Blockchain, AI and cloud services. The advertisement stated:
From now on, the mission will include the company’s development of its studios in Japan, Square Enix’s overseas studios, and Square Enix Collective. The company’s outside studios will continue to publish games such as Just Cause, Outriders and Life is Strange.
In a separate statement, Square Enix CEO Phil Rogers said the Embracer Group is a huge, decentralized group of entrepreneurs of whom we are “excited” to be a part of today.
It fits perfectly with their ambitions to make high-quality games, with great people, and grow their current titles into their best releases ever. Embracer allows them to establish new external partnerships.
Embracer Group, formerly known as THQ Nordic, along with its studio fleet of more than 100 studios and 10 entertainment companies, has not yet had enough of its development studio acquisitions. This was stated by Lars Wingefors, the company’s CEO, and according to a previous report from the Financial Times, that he wants to invest in more free games and focus in countries such as the United Kingdom, the United States, Poland, France and China.
Crystal Dynamics announced last month that its next game, Tomb Raider, had entered development using Unreal Engine 5. Other Square Enix studios are still working on new titles, some of which have yet to be announced.