Embracer Group to Acquire Eidos-Montéal, Crystal Dynamics, Square Enix Montéal from Square Enix
posted on by Crystalyn Hodgkins
Embracer Group AB announced on Monday it has entered into an agreement to acquire game development studios Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal from Square Enix Holdings Co., Ltd. The three studios have a combined total of around 1,100 employees. The agreement also includes acquiring a catalog of IPs such as Tomb Raider, Deus Ex, Thief, Legacy of Kain, and more than 50 other back catalog games. The transaction is worth US$300 million.
Square Enix said its divestment in the companies will establish "a more efficient allocation of resources," and will enable the launch of "new businesses by moving forward with investments in fields including blockchain, AI, and the cloud." Square Enix added the sale will "better align [its] overseas publishing function with [its] organization in Tokyo."
Square Enix stated its overseas studios will still publish franchises such as Just Cause, Outriders, and Life is Strange.
Embracer Group AB is based in Sweden and was formerly known as THQ Nordic AB. The company is a parent company of 119 development studios dealing in console, mobile, PC, and board games.
Update: Fixed typo in headline. Thanks, Emerje.
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