Embracer acquires Crystal Dynamics, Eidos Montreal and Square Enix Montreal for $300m
James Batchelor
Editor-in-Chief
Monday 2nd May 2022
Embracer
Square Enix
Embracer Group is to acquire three major Western studios from Japanese publisher Square Enix, as well as its biggest Western-developed intellectual property.
Crystal Dynamics, Eidos Montreal and Square Enix Montreal will be part of the growing publisher, along with around 1,100 staff across the three developers, spread across eight locations around the world.
The deal cost Embracer $300 million, for which the company has secured debt funding of SEK 4 billion ($404.2 million) and extended an existing SEK 6 billion ($606.4 milion) loan.
It is expected to close between July and September this year, pending approvals from various regulators.
As part of the deal, Embracer is also purchasing the Tomb Raider, Deus Ex, Thief and Legacy of Kain franchises, as well as more than 50 back catalogue titles. According to Embracer's announcement, 88 million Tomb Raider games have been sold to date, as well as 12 million Deus Ex titles.
Earlier this year, it was announced Crystal Dynamics is working on a brand new Tomb Raider, powered by Unreal Engine 5. It is also supporting development on Microsoft's Perfect Dark reboot.
"We are thrilled to welcome these studios into the Embracer Group," says CEO and co-founder Lars Wingefors. "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 Enix America and Europe CEO Phil Rogers added: "Embracer is the best kept secret in gaming: a massive, decentralised collection
Read more on gamesindustry.biz
