Embracer Group set to acquire Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal for $300 million

techradar.com:

Embracer Group has announced its latest acquisition and it's another big one. Making a deal with Square Enix for $300 million, this sees them set to acquire Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal.

Sharing the news in a press release, this acquisition also includes IP rights to several big franchises, including Tomb Raider, Deus Ex, Thief, Legacy of Kain, and «more than 50 back-catalogue games from Square Enix Holdings.» It's a surprisingly low amount given what's on offer here, though Square Enix has often expressed disappointment at sales for Western games. 

Embracer confirms this deal affects 1,100 employees and that, if it passes, will be expected to close between July to September this year. Speaking further, Lars Wingefors, co-founder and group CEO, stated ”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.” 

Releasing its own statement, Square Enix revealed this transaction «enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.»

Square Enix says the transaction (which was only $300 million) «enables the launch of new businesses bymoving forward with investments in fields including blockchain, AI, and the cloud.» SE still has Just Cause, Outriders, Life is Strange More: https://t.co/acRNj9xYv5 pic.twitter.com/2ORwCoJItIMay 2, 2022

It's unknown what these remaining 50 games are, though Embracer confirmed