Square Enix Sells Marvel's Avengers Studio & Tomb Raider IP

screenrant.com:

Today, May 2, Square Enix has announced it's sold some of its major Western studios in a buyout from Embracer Group, including Marvel's Avengers developer Crystal Dynamics, along with IPs including Tomb Raider. The planned acquisition comes following a number of major studio shake-ups in recent months, including Microsoft's purchase of Activision Blizzard.

One of the biggest names in gaming, Square Enix has become synonymous with many of its popular IP, not only including Tomb Raider, but also Life is Strange, Outriders, Just Cause, and more. Along with its flagship franchises, Square Enix is also known as the publisher of Marvel's Avengers, the 2020 blockbuster live service game that's been marred in controversy since launch. Developed by Crystal Dynamics, the title has kept players interested with the steady release of new Marvel's Avengers cosmetics and characters, but arguably failed to reach the heights of success expected by both Square Enix and Crystal Dynamics. In 2020 it was reported that initial disappointing sales of Marvel's Avengers cost Square Enix millions of dollars.

Related: Will Microsoft Or Sony Buy Square Enix?

In a press release, Square Enix has confirmed that it has entered into an agreement with Embracer Group for the "acquisition of Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and IP," with Embracer paying $300 million. According to the official document, the IPs in the deal include a host of game series either owned or worked on by the associated studios, including Deus Ex, Tomb Raider, Thief, and Legacy of Kain. Some Western games, includingLife is Strange, Outriders, andJust Cause will continue to be published by Square Enix moving forward. Embracer stated on the acquisition:

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