Embracer Group to buy Crystal Dynamics, Eidos Montreal and IPs including Tomb Raider for $300 million

videogameschronicle.com:

Embracer Group has agreed to acquire a large part of Square Enix‘s western development arm for $300 million.

The deal will see Embracer Group acquiring Crystal Dynamics, Eidos Montreal, Square Enix Montreal and a catalogue of IPs including:

It will also include “more than 50 back catalogue games” from Square Enix.

The total acquisition includes around 1,100 employees across three studios in eight locations around the world.

According to Embracer, the total purchase price will be $300 million, “on a cash and debt free basis, to be paid in full at closing”.

In a statement, Square Enix America and Europe CEO Phil Rogers said: “Embracer is the best kept secret in gaming: a massive, decentralized collection of entrepreneurs whom we are thrilled to become a part of today.

“It is the perfect fit for our ambitions: make high-quality games, with great people, sustainably, and grow our existing franchises to their best versions ever. Embracer allows us to forge new partnerships across all media to maximize our franchises’ potential and live our dreams of making extraordinary entertainment.”

Embracer co-founder and group CEO Lars Wingefors added: “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.”