Tomb Raider and Deus Ex studios and IP lead massive sale from Square Enix to Embracer Group
Square Enix is selling Crystal Dynamics, Eidos-Montreal, and Square Enix Montreal as well as attached IP including Tomb Raider, Deus Ex, Thief, and Legacy of Kain to Embracer Group for $300 million.
It's worth noting that the newly announced Tomb Raider game in the works using Unreal Engine 5 is indeed included in the sale of Crystal Dynamics. The acquisition also includes more than 50 games from the collective back-catalog of Square Enix's overseas studios.
Embracer Group says it "sees an opportunity to invest" in Tomb Raider and Deus Ex in particular, "as well as the additional acquired IPs such as Legacy of Kain, Thief, and other original franchises." The company explained that mobile specialist Square Enix Montreal, known for spinoffs like Hitman Go and Lara Croft Go, "will continue to develop and operate memorable mobile games based on AAA IP."
A statement shared by Crystal Dynamics and Eidos-Montreal on Twitter reads: "Embracer Group will help propel us to great new heights as we continue to deliver exciting experiences from our beloved portfolio of franchises as well as original concepts and IPs developed with partners."
In total, the three acquired studios represent eight physical offices and roughly 1,100 employees. In a press release announcing the acquisition, Embracer Group confirmed that the all-cash deal is expected to close between July and September of this year.
After this deal, Embracer Group will have "more than 14,000 employees, 10,000 engaged game developers, and 124 internal studios" by its math. The company already owns and oversees THQ Nordic, Deep Silver parent Koch Media, Borderlands creator Gearbox, and several other studios and companies, both in and outside of games. Most recently, it
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