Square Enix is set to sell three western studios to Embracer, and use purchase to invest in blockchain games

pcinvasion.com:

It looks like Embracer Group will purchase most of Square Enix’s western studios for a reported $300 million USD. The CEO of Embracer Group Lars Wingefors announced the acquisition in a statement confirming the deal between the two companies. Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal will officially be a part of Embracer Group’s hefty studio lineup later in the year. The amount to be spent seems small, but Square Enix will apparently use it in its investment toward blockchain games and the cloud.

Embracer Group has made a name for itself by acquiring a wide variety of game developers and publishers. Gearbox Software, Deep Silver, and Aspyr are just a few of the studios it has picked up over the years. And now, via a deal valued at $300 million USD, it’ll add three more to that list. Wingefors goes on to say “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.”

This may come as a sudden surprise for some, but the writing was on the wall for some time. Square Enix’s western studios were underperforming over the last few years. With Marvel’s Avengers being flopping hard, Marvel’s Guardians of the Galaxy underperforming, and Deus Ex being put on ice, it’s clear that Square Enix wasn’t too happy about the situation.

It’s also fair to say that Embracer Group just got a pretty good deal. The company now owns some of the most influential gaming IPs from the last few decades. Tomb Raider, Deus Ex, Thief, Legacy of Kain, and many more franchises now fall under its increasingly large umbrella. It’s also worth noting that Embracer Group purchased Gearbox Software for a total of $1.3 billion USD last year. In