Square Enix and Embracer Group have entered into an agreement for the former to sell a number of development studios and intellectual property to the latter for just $300 million. It includes proverbs marvel avengers Developer Crystal Dynamics and Marvel’s Guardians of the Galaxy Developer Eidos-Montreal as well as IPs like Tomb Raider, Deus Ex, Thief, Legacy of Kain and more. While it is still subject to regulatory approvals and the like, the deal is expected to close between July and September 2022.
“We are delighted to welcome these studios to the Embracer Group,” said Lars Wingfors, co-founder and group CEO, Embracer Group. Part of the ad. “We recognize impressive intellectual property, world-class creative talent, and a track record of excellence that has been proven time and time again over the past decades. It was a pleasure meeting with the leadership teams and discussing future plans for how to achieve their ambitions and became a huge part of Embracer.”
Today we have entered into an agreement to welcome over 1,000 new colleagues by acquiring Tweet embedAnd Tweet embedAnd Tweet embed With an impressive catalog of IP addresses like Tomb Raider and Deux Ex, to be a part of our ecosystem.https://t.co/NqELDQKTGe
– Embracer group (embracergroup) May 2, 2022
In addition to the companies and IPs mentioned above, Square Enix Montreal is also part of this sale under the Eidos umbrella as Eidos Interactive Corp is acquired. by Embracer Group. The acquisition also includes more than 50 games from the back catalog, although not individually described. In all, the deal will bring in approximately 1,100 additional employees under the Embracer Group spread across three studios and eight locations.
“Embracer is gaming’s best kept secret: a huge decentralized group of entrepreneurs that we are thrilled to be a part of today,” said Phil Rogers, CEO of Square Enix America and Europe, as part of the same announcement. “It fits perfectly with our ambitions: to make high-quality games, with great people, sustainably, and grow our existing franchises to their best releases ever. Embracer allows us to forge new partnerships across all media to maximize the potential of our franchises and live our dreams of making extraordinary entertainment.”
What do you think about Square Enix agreeing to sell the aforementioned studios and IP to Embracer Group? Are you excited to see what kinds of projects developers might be involved in under the new management should the deal go through? Tell us in the comments, or feel free to reach out to me and hit me up right on Twitter at Tweet embed In order to talk about all things gaming!
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