In a surprise announcement, Embracer Group, the Sweden-based holding company that recently acquired Saber Interactive and Gearbox Software said that it has entered into an agreement with Square Enix to purchase the Japanese company’s western studios and some of its iconic IPs for $300 million.
Crystal Dynamics, Eidos-Montréal, and Square Enix Montreal are the three western studios included in the transaction, and they represent approximately 1,100 employees. The IPs included the deal include Tomb Raider, Deus Ex, and “more than 50 back-catalogue games” that will become the property of Embracer Group.
Overall, the deal seems like a bargain considering that Crystal Dynamics and Eidos Montréal are world-class AAA studios, and a franchise like Tomb Raider has also sold a massive 88 million units in its entire lifetime. “Embracer sees an opportunity to invest in these franchises, as well as the additional acquired IPs such as Legacy of Kain, Thief, and other original franchises,” Embracer Group said in the press release.
Eidos Montreal, which is known for Deus Ex Human Revolution and Shadow of the Tomb Raider is said to be working on multiple AAA projects including “both new releases from beloved franchises and original IP.” As for Crystal Dynamics, the developer of the 2013 Tomb Raider reboot and its sequel Rise of the Tomb Raider is already working on the next mainline Tomb Raider game that should “deliver next-generation storytelling and gameplay experiences,” Embracer Group said today.
Crystal Dynamics will also continue to work with Microsoft’s The Initiative studio on the much-anticipated Perfect Dark reboot. “Our teams have made great progress in building Perfect Dark together as co-development partners, and we will be continuing this work with them in their next chapter,” The Initiative shared on Twitter today.
In a separate press release, Square Enix said that it will keep working with its overseas studios to publish franchises such as Just Cause, Life is Strange, and Outriders. “In addition, the Transaction enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud,” the company also said today.
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