Square Enix Sells Tomb Raider, Deus Ex & More To Embracer Group
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Square Enix dropped a bombshell this week, as they announced they had sold some massive studios and IPs to Swedish conglomerate Embracer Group.
Studios include Crystal Dynamics, Eidos Montreal & Square Enix Montreal, while the IPs include Tomb Raider, Deus Ex, Thief & Legacy of Kain. The deal does not include other western IPs such as Just Caus, Outriders and Life Is Strange, but will include “more than 50 back catalogue games” from Square Enix.
The total purchase of the deal is $300m USD, “on a cash and debt free basis to be paid in full at closing”, expected to close Q2 of this financial year (Jul-Sep 2022). More than 1,100 employees across 3 studios in 8 locations globally will become part of Embracer Group.
Square Enix said the deal “enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud”.
Embracer Group is based in Karlstad, Sweden. As of 2021 financial year, they are ranked as the 17th biggest video game published in terms of revenue. TheygGrew from the Nordic Games brand, becoming THQ Nordic after acquiring THQ trademark in 2014. Eventually, the holding company name became "Embracer Group" in 2019. Since the start of 2020, has made 62 acquisitions at a cost of $8.1b USD (not counting Square Enix deal). Acquisitions over time include: Gearbox, Koch Media, Saber Interactive, Piranha Bytes (fuck yeah), Bugbear Entertainment, 3D Realms, Beamdog, Dark Horse Media, Perfect World & MUCH more.
We covered Square Enix themselves possibly being up for sale back in April 2021. Check it out: https://www.youtube.com/watch?v=I5OHoQVFAjI
#SquareEnix #TombRaider #EmbracerGroup