The Embracer Group has announced that it has acquired three of Square Enix''s development studios for $300 million. However, though it might look small next to recent deals like Microsoft''s $68.7 billion Activision Blizzard acquisition or Sony''s $3.6 billion purchase of Bungie, it''s still a significant evolution in the gaming industry.
Square Enix Montreal, Eidos Montreal, and Crystal Dynamics will be sold for free through the agreement. Square Enix Montreal is a popular mobile game, with titles like Deus Ex Go, Hitman Go, and Lara Croft Go. Eidos Montreal was responsible for developing Marvel''s Guardians of the Galaxy, which was well received by gamers and reviewers, but fell short of Square Enix''s expectations in terms of sales. Crystal Dynamics recently said it was working on the next Tomb Raider game using Epic''s Un
Embracer will gain access to high-value intellectual property such as Deus Ex, Thief, Tomb Raider, Legacy of Kain, and over 50 back catalog games. Phil Rogers, the CEO of Square Enix America and Europe, said in a press release that "Embracer is the best-kept secret in gaming: a massive, decentralized collection of entrepreneurs we are thrilled to become a part of today."
The Embracer Group was established following the acquisition of what was left from THQ Nordic AB, a troubled American game publisher. Deep Silver, Gearbox, Koch Media, and Saber Interactive are all members of the Swedish video game and media holding group.
Square Enix intends to continue producing just Cause, Life is Strange, and Outriders, as they move forward.