The $300 million deal has been finalised
Image: Embracer Group
Following news that Embracer Group would be acquiring a number of Square Enix’s western studios and IPs back in May, the company has today announced that it has completed the purchase. This means Embracer now officially owns Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal, and holds the rights to franchises such as Tomb Raider, Thief, Legacy of Kain, and a ton more.
Embracer shared an official statement on its website, saying that “all conditions for the transaction, including regulatory approvals, have now been fulfilled”.
We are happy to announce the completion of the acquisition of @CrystalDynamics, @EidosMontreal, & soon to be renamed @SquareEnixMtl! The companies will form the 12th operative group under the leadership of Phil Rogers. A warm welcome to all new colleagues.https://t.co/9t5nHktjEo— Embracer Group (@embracergroup) August 26, 2022
The Swedish company dropped $300 million on the deal, which sees them bring over 1,100 employees from Square Enix’s now-former studios. Embracer Group has stated that it will be giving out “further information… at a later date”.
This isn’t the only deal Embracer has entered in 2022. Just last week, it also acquired the rights to the Lord of the Rings IP and Limited Run Games. We have a comprehensive list of everything Embracer Group owns below:
It’s been a busy day for game studio acquisition news today. Earlier today, TinyBuild acquired the rights to Surgeon Simulator, I Am Fish, and I Am Bread, while a rumour around Amazon buying Electronic Arts also popped up, but this has been subsequently denied.
How do you feel about the acquisition? What would you like to see the company bring back? Let us know!
[source embracer.com]