EMBRACER GROUP ACQUIRES SQUARE ENIX MONTREAL

GameUtha May 9, 2022

Square Enix, the video game company known best for titles like Tomb Raider, Deus Ex and Legacy of Kain has sold off its western division along with its IPs to Embracer Group, a video conglomerate based in Europe.

A press release from the Japanese publisher confirmed that Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal have been sold for a total of $300 million. Considering the talent, workforce and the IPs it seems like Square Enix let them go for a very cheap price, the recent acquisition of Activision Blizzard by Microsoft cost a staggering $68.7 Billion and Bungie by Sony cost $3.4 billion in comparison.

SQUARE ENIX HOLDINGS CO., LTD. enters into an agreement with Embracer Group for the acquisition of Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and IP.

Press Release: https://t.co/ooOYacp4PW pic.twitter.com/2PmQE967gk
— Square Enix (@SquareEnix) May 2, 2022

The reason Square Enix decided to sell of its most popular IPs is to focus on “investments in fields including blockchain, AI, and the cloud” although it was late confirmed that the studio still holds the rights to games like Just Cause, Life is Strange and Outriders. The company’s development function will now comprise its studios in Japan, Square Enix External Studios, and Square Enix Collective.

The deal will include 50 IPs including the recently released Guardians of the Galaxy game and the not-so-popular Avengers game, which reportedly cost the company over 200,000,000 in losses. Already announced games like the new Tomb Raider will continue development but will not be released under the Square Enix banner and Crystal Dynamics will continue to work with Microsoft on the Perfect Dark Reboot.

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