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May 3, 2022
This week, the Embracer Group announced its move to acquire three key video game developers, Crystal Dynamics, Eidos-Montreal and Square Enix Montreal, from Square Enix Holdings for $300 million.
The collective of development studios joining the Embracer Group brand family also comes with a catalog of intellectual property and franchises, including "Tomb Raider," "Deus Ex," "Thief" and "Legacy of Kain" alongside over 50 titles initially held by Square Enix.
"We are thrilled to welcome these studios into the Embracer Group," says Lars Wingefors, co-founder, group chief executive officer, Embracer Group. "We recognize the fantastic IP, world-class creative talent, and track record of excellence demonstrated over the past decades. It has been a great pleasure meeting the leadership teams and discussing plans for how they can realize their ambitions and become a great part of Embracer."
"Embracer is the best-kept secret in gaming: a massive, decentralized collection of entrepreneurs whom we are thrilled to become a part of today," says Phil Rogers, Square Enix America and Europe CEO. "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. Embracer allows us to forge new partnerships across all media to maximize our franchises' potential and live our dreams of making extraordinary entertainment."
Embracer Group has also announced its investment in the intellectual property portfolio, stating the blockbuster hits and globally acclaimed titles of Deus Ex, Tomb Raider and Legacy of Kain will be part of the group's investment plans.
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