Monday, May 02, 2022
Embracer Group, the sprawling mega company who owns THQ Nordic, Saber Interactive, and Gearbox Software, to name but a few, have entered an agreement with Square Enix to acquire a whole bunch of IP, and their corresponding studios. Among the franchises set to be acquired by Embracer, are Tomb Raider, Deus Ex, and Thief.
More than 50 other IPs will also come are part of the $300 million deal, which will be on a “cash and debt-free basis, to be paid in full at closing,” and see Embracer Group expanding by approximately 1,100 employees. Deus Ex developer Eidos Montréal and Tomb Raider studio Crystal Dynamics will be included in the agreement.
The acquisition is set to close during Embracer's 2022-23 fiscal year, which lands between July and September 2022. It means that the upcoming new Tomb Raider title, developed using Unreal Engine 5, will release under the Embracer umbrella. Square Enix, meanwhile, attributes the sale to “changes underway in the global business environment".
Square Enix added: “In addition, the transaction enables the launch of new business by moving forward with investments in fields such as blockchain, AI, and the cloud.” The company will continue to release games from its studios in Japan, as well as external studios, and Square Enix Collective label, and “publish franchises such as Just Cause, Outriders, and Life is Strange.”
“We are thrilled to welcome these studios into the Embracer Group,” Embracer Group co-founder and CEO Lars Wingefor commented. “We recognise 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 with leadership teams and discussing future plans for how they can realise their ambitions and become a great part of Embracer."
Embracer currently has over 230 game IPs and more than 30 AAA games under its belt, with in excess of 14,000 employees, 10,000 game developers, and 124 internal studios. “This acquisition will bring additional scale to Embracer’s current AAA segment, and Embracer will have one of the largest pipelines of PC/Console games content across the industry, across all genres,” Wingefors added.
Today we have entered into agreement to welcome over 1000 new colleagues through the acquisition of @CrystalDynamics, @EidosMontreal, and @SquareEnixMtl with a fantastic catalog of IPs such as Tomb Raider and Deux Ex, to be part of our ecosystem.https://t.co/NqELDQKTGe— Embracer Group (@embracergroup) May 2, 2022
Today we have entered into agreement to welcome over 1000 new colleagues through the acquisition of @CrystalDynamics, @EidosMontreal, and @SquareEnixMtl with a fantastic catalog of IPs such as Tomb Raider and Deux Ex, to be part of our ecosystem.https://t.co/NqELDQKTGe
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