Embracer Group, the Swedish video game holding firm that owns Gearbox, THQ Nordic, and many more companies, has agreed to buy three of Square Enix’s studios and related IP.
Crystal Dynamics, Square Enix Montréal, and Eidos-Montréal are the three studios in question, and Embracer Group will get ownership of IPs such as Tomb Raider, Deus Ex, Thief, and others. The transaction will cost the firm around $300 million and is scheduled to be completed “during the second quarter of Embracer’s financial year 22/23 (July-September 2022).”
New enterprise to arise
According to a press statement from Square Enix, this agreement would allow “the birth of new enterprises by going ahead with investments in domains such as blockchain, AI, and the cloud.” The press release also mentions that Square Enix’s overseas studios will “continue to publish franchises such as JUST CAUSE, OUTRIDERS, and Life is Strange,” which could imply that these three IPs were not included in the deal.
This is the latest high-profile purchase in the video game business, and it will offer “extra size to Embracer’s existing AAA section,” giving them “one of the biggest pipelines of PC/Console games material throughout the industry, spanning all genres.” However, only time will tell what long-term consequences this will have on the important qualities.