Swedish company Embracer Group in the official press release reports that it has reached an agreement with Square Enix to acquire three developer studios and several gaming IPs.
For example, the Embracer Group will include Crystal Dynamics (developer of the Tomb Raider modern trilogy), Eidos-Montreal (Marvel’s Guardians of the Galaxy, latest parts Deux Ex and Thief) and Square Enix Montreal (developer of Tomb Raider, Hitman, Deus Ex mobile versions) studios. In addition, the Embracer Group will also own the Tomb Raider, Deus Ex, Thief, Legacy of Kain gaming franchises and more than 50 games from Square Enix Holdings Co., Ltd.’s back catalog. In total, the agreement includes about 1,100 employees in three studios and eight global locations.
The total price of the deal is $300 million, which is very little compared to the last billion acquisitions in the gaming industry. Square Enix will also repay all possible debts of its studios before the closing of the agreement – it should be completed by the end of September 2022.