Embracer Group has dropped a big but not unexpected bomb. It’s no secret Square Enix hasn’t been too complimentary of sales performances and certain developers under their helm. As a result, Embracer has entered into an agreement to acquire a ton of IPs and developers from Square Enix. You can read the details from the press release below.
Embracer Group AB (”Embracer”) has entered into an agreement to acquire the development studios Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and a catalogue of IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 back-catalogue games from SQUARE ENIX HOLDINGS CO., LTD. (“Square Enix Holdings”). In total, the acquisition includes ~1,100 employees across three studios and eight global locations. The total purchase price amounts to USD 300 million on a cash and debt free basis, to be paid in full at closing.
Embrace Group, Press Release
Pending regulatory approval, the deal is expected to close during the second quarter of Embracer’s financial year in July-September of 2022. Co-founder and Group CEO of Embracer Group, Lars Wingefors released a statement on the news.
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.
Co-founder and Group CEO of Embracer Group, Lars Wingefors
What are your thoughts on these acquisitions from Embracer Group?
GamebredMatrix 
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