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Square Enix sells western studios and IP to Embracer Group – Tomb Raider, Deux Ex & more

Embracer Group is buying just about the entire western studios and their associated IP from Sq. Enix for a meagre sum of $300 million. The roughly 1,100 workers of Crystal Dynamics, Eidos Montreal and Sq. Enix Montreal will likely be becoming a member of the ever-growing Embracer Group, bringing with them main IPs that embrace Tomb Raider, Deux Ex, Thief, Legacy of Kain and greater than 50 back-catalogue video games.

Sq. Enix says that this $300 million will allow them to spend money on blockchain, AI and the cloud…

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Cool.

The acquisition is being made in money and with out debt, topic to the standard regulatory and different exterior approvals, however must be accomplished by September 2022.

Lars Wingefors, Co-founder and Group CEO, Embracer Group, stated “We’re thrilled to welcome these studios into the Embracer Group. We acknowledge the incredible IP, world class artistic expertise, and monitor file of excellence which have been demonstrated repeatedly over the previous a long time. It has been a fantastic pleasure assembly the management groups and discussing future plans for a way they will understand their ambitions and develop into a fantastic a part of Embracer.”

That is one other big acquisition inside the video games trade, with Embracer having grown at a daft charge over the previous decade. Rising out of Nordic Video games, they snapped up an entire lot of THQ (together with the identify) as that writer went bust in 2013, however their progress has accelerated quickly within the final 5 years. They’ve purchased up Koch Media, Tarsier Studios, Espresso Stain, Gearbox, Saber Interactive, Milestone and extra in that point, creating an enormous empire of publishers and builders internationally and splashing over $8 billion in money.

Sq. Enix, in the meantime, loses just about all of its western improvement construction and the IP that it picked up once they acquired Eidos in 2009. They’ll nonetheless have their major Japanese improvement studios, in addition to Sq. Enix Exterior Studios and the indie publishing arm Sq. Enix Collective. They will even proceed to publish franchises reminiscent of Simply Trigger, Outriders and Life is Unusual.

Promoting these studios off comes at an fascinating time, although does make a component of sense. Crystal Dynamics is simply coming into pre-production of a brand new Tomb Raider recreation utilizing Unreal Engine 5, and has been introduced in by Microsoft to co-develop the Excellent Darkish reboot, whereas Eidos Montreal solely simply launched Guardians of the Galaxy final yr. Sq. probably noticed a possibility to get out forward of needing to pump extra money and time into tasks that it’s not sure of find out how to make succeed.

Supply: Embracer

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