Square Enix is selling off its three major Western gaming studios along with related video game properties – which includes big names like Tomb Raider, Deus Ex and Thief. The studios and properties will be acquired by the Embracer Group for approximately $ 300 million; following regulatory approvals, the acquisition should be finalized between July and September this year.
In total, Embracer acquired Crystal Dynamics, Eidos-Montreal and Square Enix Montreal, which amounted to “1,100 employees in three studios and eight global locations”. In terms of gameplay, the company will be managing brands, including Tomb Raider, Deus Ex, Thief and Legacy of Kain, “along with ongoing sales and operations of more than 50 games from the studio’s back catalog,” according to Pregrdnik. Among other games already under development, Crystal Dynamics recently announced that it is working on a new title, Tomb Raider.
Embracer is quietly a huge publishing group that manages more than 100 studios, including as the developer of Borderlands Gearbox, Saber Interactive and THQ Nordic. He also owns the comics and entertainment brand Dark Horse. Embracer says that when the Square Enix deal is completed, it will have a total of 124 in-house studios and 14,000 employees.
“We are excited to welcome these studios to the Embracer Group,” said co-founder and CEO Lars Wingefors in a statement. “We recognize the fantastic IP, world-class creative talent and experience of excellence that have been demonstrated time and time again in recent decades. It was a great pleasure for me to meet with the leadership teams and discuss future plans on how to realize their ambitions and become a great part of Embracer. ”
Square Enix originally began its transition to Western game development in 2009 with the acquisition of Eidos Interactive, during which time it led the new editions of Hitman, Tomb Raider and Deus Ex, along with an expansion into original Marvel games. In 2017, developer Hitman IO Interactive split from Square Enix to become an independent studio. Despite the deal, Square Enix is not completely off the western stage; the company noted that it will still publish games Just Cause, Life is Strange and Outriders.
The news comes at a particularly busy time to acquire video games. Sony bought developer Destiny Bungie for $ 3.6 billion, Take-Two spent $ 12.7 billion for maker FarmVille Zynga, and in the biggest deal to date, Microsoft will acquire Activision Blizzard for nearly $ 69 billion.
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