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Embracer Group to Buy Multiple Square Enix Studios and IPs in Huge Acquisition

Rise of the Tomb Raider

Embracer Group, the enormous company that’s always scooping up studios and franchises, is set to close its latest big deal, and it’s a doozy. The conglomerate is about to acquire several developers and IPs from Square Enix.

The acquisition will include studios Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal. IPs such as Tomb Raider, Deus Ex, Legacy of Kain, Thief, and “more than 50 back-catalogue games” are also part of the agreement. The total value of the deal is a surprisingly small $300 million. A press release on Embracer’s website states the deal is expected to close somewhere between July and September 2022.

The purchase of the above-mentioned studios comprises about 1,100 employees, the statement continues. With the acquisition of several big IPs, it’s implied that some will be greenlit for new games; a new Deus Ex is now confirmed, for example. The “continued sales and operations of the studios’ more than 50 back-catalogue games” is an interesting point, although what these games are is not made clear.

A press release from Square Enix also goes over the deal from its perspective. This seems to be part of a plan to make the publisher more efficient and optimise its output and growth. “Going forward, the Company’s development function will comprise its studios in Japan, Square Enix External Studios, and Square Enix Collective,” the statement reads. “The Company’s overseas studios will continue to publish franchises such as JUST CAUSE, OUTRIDERS, and Life is Strange.”

It’s another huge acquisition in a period of major change. Sony has been buying up studios, the largest in recent memory being Bungie, while Microsoft has made outrageous waves, scooping up ZeniMax Media (Bethesda) and, assuming the deal goes through, Activision Blizzard.

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