Square Enix sells its three major Western game studios along with their associated video game properties – which include big names like Tomb riderAnd The former godAnd thief. The studios and properties are set to be Acquired by Embracer Group for an estimated $300 million; After regulatory approvals, the acquisition is scheduled to be completed between July and September of this year.
In all, Embracer acquires Crystal Dynamics, Eidos-Montreal and Square Enix Montreal, which have “1,100 employees in three studios and eight global locations.” Regarding the characteristics of the game, the company will be the host of brands including Tomb Raider, former god, thiefAnd kenya heritage, according to Embracer, “along with continued studio sales and operations for more than 50 back catalog games.” Among other games already in development, Crystal Dynamics recently announced that it is working on a new version Tomb rider the address.
Embracer is a quietly huge publishing group, running over 100 studios including the likes Borderlands Developer Gearbox, Saber Interactive, and THQ Nordic. She also owns the comedy and entertainment brand Dark Horse. Embracer says that when the deal with Square Enix closes, it will have a total of 124 in-house studios and 14,000 employees.
“We are delighted to welcome these studios to the Embracer Group,” co-founder and CEO Lars Wingefors said in a statement. “We appreciate fantastic intellectual property, world-class creative talent, and a proven track record of excellence that has been proven time and time again over the past decades. It has been a great pleasure to meet the leadership teams and discuss future plans for how to achieve their ambitions and become a great part of Embracer.”
Square Enix originally started the transition into western game development in 2009 with its acquisition of Eidos Interactive, during which time it oversaw a new company AssassinAnd Tomb riderAnd The former god Releases along with the expansion of the original Marvel games. In 2017, Assassin IO Interactive developer split from Square Enix To become an independent studio. Despite the deal, Square Enix isn’t entirely out of the Western scene; The company noticed will keep posting Just a reasonAnd life is strange And Outriders games.
The news comes during an especially busy time for video game acquisitions. Sony buy Saucepan Developer Bungie for $3.6 billionAnd Take-Two spent $12.7 billion on farmville Zynga MakerAnd in the biggest deal to date, Microsoft is set to acquire Activision Blizzard for approximately $69 billion.
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