Earlier today, Embracer Group announced via an official press release that they have agreed to acquire Eidos, Crystal Dynamics, and Square Enix Montreal for $300 million dollars. Along with this acquisition, Embracer now has gained access to a full catalog of IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain, and more.
The deal is expected to be finalized sometime during Embracer’s financial year 2022/2023 (July through September 2022). Furthermore, Square Enix made this move so that they can start investing in Blockchain technology. Below are a few notable reactions from Embracer and square Enix reps in regards to the deal.
”We are thrilled to welcome these studios into the Embracer Group. We recognize the fantastic IP, world-class creative talent, and track record of excellence that have been demonstrated time and again over the past decades. It has been a great pleasure meeting the leadership teams and discussing future plans for how they can realize their ambitions and become a great part of Embracer,” says Lars Wingefors, Co-founder and Group CEO, Embracer Group.
”Embracer is the best-kept secret in gaming: a massive, decentralized collection of entrepreneurs whom we are thrilled to become a part of today. It is the perfect fit for our ambitions: make high-quality games, with great people, sustainably, and grow our existing franchises to their best versions ever. Embracer allows us to forge new partnerships across all media to maximize our franchises’ potential and live our dreams of making extraordinary entertainment,” says Phil Rogers, Square Enix America, and Europe CEO.
Today’s news is interesting for a few reasons. First and foremost, it was revealed recently that a new Tomb Raider game is currently in development fully utilizing Unreal Engine 5. This will surely end up being a big win for Embracer once that game releases. Secondly, Final Fantasy and several other IPs are not a part of this acquisition and are still fully owned and operated by the company. Considering how closely Sony has worked with Square Enix over the years in regards to PlayStation timed console exclusivity deals, it will be interesting to see if this relationship flourishes further and leads to another acquisition.
Were any of you surprised by today’s news? Are there any other franchises that you want to see return? Feel free to let us know in the comments section below.