Wow.
Embracer Group is set to acquire Square Enix studios Eidos, Crystal Dynamics, Square Enix Montreal, it has today declared.
“In total, the acquisition includes [around] 1,100 employees across three studios and eight global locations,” Embracer Group said in a press release. “The total purchase price amounts to USD 300 million on a cash and debt free basis, to be paid in full at closing.”
The acquisition is expected to close by September 2022.
”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,” said Embracer’s Lars Wingefors. “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.”
“Embracer is the best kept secret in gaming: a massive, decentralized collection of entrepreneurs whom we are thrilled to become a part of today,” added Phil Rogers, Square Enix America and Europe CEO.
“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,” Rogers continued. “Embracer allows us to forge new partnerships across all media to maximize our franchises’ potential and live our dreams of making extraordinary entertainment.”
IPs that will transition to Embracer include the likes of Thief, Legacy of Kain, Deus Ex and Tomb Raider. All up, a back catalogue of more than 50 games will be in the ownership of Embracer once the acquisition closes.
We’ll have more on the acquisition as it is made available.
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