Square Enix sells off development studios and IPs to Tomb Raider, Deus Ex to Embracer

Swedish video game publisher Embracer said Monday it has acquired three development studios responsible for hit games like Tomb Raider and Deus Ex from Japanese publisher Square Enix.

The acquisition of three North American studios Crystal Dynamics, Eidos-Montreal and Square Enix In a statement, Embracer said Montreal, totaling $300 million (about Rs 2,295) and affecting about 1,100 employees.

It also includes the intellectual property (IP) for some of the best-selling franchises, such as Tomb Raiderstarring British adventure archaeologist Lara Croft, who has been a character icon in video games since its debut in 1996.

“We are delighted to welcome these studios to the Embracer Group. We recognize great intellect, world-class creative talent and proven track record of excellence over the decades.” , Lars Wingefors, Co-founder and CEO of Embracer, said in a statement.

Other famous IPs included in the deal are sci-fi RPGs Deus Ex and Thiefwhere players need to focus on stealth as they don the cloak of a master thief.

The sale is subject to regulatory approval and is expected to close between July and September, the group said.

Following the close of the transaction, Embracer, which it acquired for several years, will have more than 14,000 employees and 124 in-house game development studios.

Embracer also mentioned that it “sees investment opportunities in franchises like Tom Raider, Deus Ex, as well as additional acquisition IPs like Legacy of Kain, Thief, and other original franchises. The acquisition also includes continuing to sell and operate more than 50 games in the studio’s sub-category. “

Embracer, formerly known as THQ Nordicbased in the town of Karlstad in western Sweden.

In a separate statement, Square Enix said “the move is based on a policy of optimizing business structure” that it outlined in its “medium-term business strategy,” published in May 2021.

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