Embracer Group to accumulate Crystal Dynamics, Eidos-Montreal, Square Enix Montreal, and extra for $300 million

Image through Crystal Dynamics

Embracer Group, previously often called THQ Nordic has plans to accumulate a number of main studios together with Crystal Dynamics, Eidos-Montreal, and Square Enix Montreal for $300 million. The firm made an official announcement concerning the acquisition on their firm web site. On prime of the growing studios, Embracer Group will personal over 50 new IPs so as to add to their already intensive catalog. This contains Tomb Raider, Deus Ex, and Thief simply to call a number of.

“We are thrilled to welcome these studios into the Embracer Group,” says Lars Wingefors, co-founder and group CEO of 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.” Following the acquisition, Embracer Group will personal 124 studios.

Square Enix launched an Execution of Share Transfer Agreement concerning the transaction with Embracer Group sharing that call behind promoting the studios is to “enhance corporate value by accelerating growth in the Company’s core businesses in the digital entertainment domain.” The firm additionally talked about how the deal “enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.” Square Enix nonetheless retains the IP rights to Just Cause, Outriders, and Life is Strange which “overseas studios (America and Europe) will continue to publish.”

This acquisition will take away all western division studios beneath Square Enix’s umbrella so will probably be attention-grabbing to see what comes of Square Enix’s American and European branches following the acquisition. Crystal Dynamics continues to be at present engaged on Marvel’s Avengers however can be collaborating with The Initiative for Perfect Dark in addition to just lately saying a brand new Tomb Raider title. Eidos-Montreal simply launched Guardians of the Galaxy final yr and Square Enix Montreal launched Hitman Sniper: The Shadows in 2021 on cellular units.

The acquisition is aimed to be finalized between July and September later this yr.