LogInThe company wants to buy a catalogue of well-known IPs for $300 million.
Deus Ex: Mankind Divided
Embracer Group announced they entered into an agreement to acquire Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal. The company will get rights to a "catalogue of IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 back-catalogue games from Square Enix Holdings" for $300 million.
The company also noted that the acquisition includes 1,100 employees across three studios and eight global locations. They expect the deal to close during Q2 of Embracer's financial year 2022/2023.
"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. 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," said Lars Wingefors, Co-founder and Group CEO, Embracer Group.
"Embracer is the best kept secret in gaming: a massive, decentralized collection of entrepreneurs whom we are thrilled to become a part of today. 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. Embracer allows us to forge new partnerships across all media to maximize our franchises’ potential and live our dreams of making extraordinary entertainment," added Phil Rogers, Square Enix America and Europe CEO.
If the deal goes through, Embracer will have more than 14,000 employees, 10,000 game developers, and 124 internal studios. The company will also have more than 230 games in development, 30 of which are AAA titles, across different studios.
Don't forget to join our new Reddit page, our new Telegram channel, follow us on Instagram and Twitter, where we are sharing breakdowns, the latest news, awesome artworks, and more.