Image: Square Enix
Embracer Group, a planet-eating video game publisher that already includes the likes of Gearbox and THQ Nordic, announced tonight a deal to buy a number of legendary studios and properties from Square Enix.
While the acquisition isn’t final — it’s just an “acquisition agreement” until everything is signed later this year — the announcement press release says it will be a $300 million deal if approved. For $300 million, Embracer will receive:
- Crystal Dynamics, Eidos Montreal and Square Enix Montreal studios (the latter may be renamed) employ around 1,100 people worldwide.
- “IP directories” owned and/or worked by these studios, including out of the encirclement, tomb Raider, Rogue, Kane’s Legacy and “Ongoing sales and operations of the studio’s 50+ post-production games.” Also of interest: “Crystal Dynamics is actively working on multiple AAA projects, including the next mainline Tomb Raider game that will deliver the next generation of storytelling and gameplay.”
Square Enix acquired Eidos (and Crystal Dynamics) in 2009 and initially oversaw a series of critically acclaimed reboots such as tomb Raider and out of the encirclementlater games in these properties – and licensing efforts such as the Avengers and Guardians of the Galaxy– has become a meme in recent years, because no matter how high their review scores end up, or how many copies they sell, Square Enix always says these games “underperform”.
Perhaps knowing that the first question most people will have after making a deal like this is “So what happened to these series?”, says Embracer’s press release:
The acquisition brings a series of compelling new series from well-loved franchises and original IP, including a new tomb Raider game. The acquisition builds on Embracer’s mission to create the leading independent global gaming and entertainment ecosystem. Embracer was particularly impressed by the studio’s rich portfolio of original IP, brands with proven global potential, such as tomb Raider and out of the encirclement, as well as demonstrating the ability to create AAA games with large and growing fan bases. There are many compelling opportunities to grow studios organically to maximize their business opportunities.
It’s vague, but still more hopeful for fans of the like out of the encirclement Compared to the complete silence and neglect of Square Enix in recent years. The acquisition is “expected to close in Embracer’s second quarter of FY22/23 (July 2022 to September 2022).
Note that Embracer spent $1.3 billion on Gearbox alone.get all thisfrom seasoned studios to beloved properties for under $1 billion seems…like stealing.
Then why sell it? Square Enix’s own press release says:
This transaction will help the company adapt to changes in the global business environment, establish a more efficient resource allocation, accelerate the growth of the company’s core business in the field of digital entertainment, and enhance corporate value. Additionally, the deal facilitates the launch of new businesses by advancing investments in areas such as blockchain, artificial intelligence and cloud.
Imagine having to post your sold resume tomb Raider At least partially fund some blockchain junk.