Embracer Group announced via their company website that they have entered into an agreement with Square Enix Holdings Co., LTD to acquire the development studios Crystal Dynamics, Eidos-Montreal, Square Enix Montreal, and a long list of IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain and many more. The announcement states that the deal includes approximately 1,100 employees across all studios.
The total purchase price is $300 million USD on a cash and debt free basis, with an expected closing date between July and September 2022.
Co-founder and Group CEO Lars Wingefors writes in the press release that:
”We are thrilled to welcome these studios into the Embracer Group. 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. It has been a great pleasure meeting the leadership teams and discussing future plans for how they can realize their ambitions and become a great part of Embracer.“
Embracer Group is a Swedish video game and media holding company that formed in 2011 under the title Nordic Games Licensing. In 2016, the company changed their name to THQ Nordic, before again renaming in 2019 to their current title.
The company has made waves in recent years, acquiring such prolific studios such as Koch Media (which own Deep Silver), Saber Interactive (Crysis Remastered, WWE 2K Battlegrounds, etc), and most recently Gearbox Software (Borderlands).
Embracer promises to host a webcast for investors, analysts, and media later today, scheduled for 9:00 CET.
What are your feelings on this acquisition? Will you hate to see these properties leave Square Enix’s hands, or do you think they are now better off? Let us know what you think in the comments below and on our official Discord server!