General Gaming News

Embracer Group makes big play, buying up chunks of Square Enix

Shadow of the Tomb Raider

Another week, another acquisition by a growing conglomerate in the video games industry. This time, it’s Embracer Group once again making moves. This deal is pretty big, and will see some rather famous IPs changing hands.

Other acquisitions have been made by Embracer Group as of late, but this is one of the biggest. The deal is expected to be completed by Q4 this year, and will see the publisher acquire a pretty big stake in various developers and studios. The company made an official announcement regarding the acquisition this past week. The buyout amounts to $300 million on a cash and debt-free basis, to be paid in full when the transaction closes

“We are thrilled to welcome these studios into the Embracer Group,” says Lars Wingefors, co-founder and group CEO of 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.”

The move includes Crystal Dynamics, the team behind Marvel’s Avengers and the Tomb Raider games. Eidos-Montreal and Square Enix Montreal are also included. Eidos-Montreal, the bigger of those two names, is most well-known for various Deus Ex titles, beginning with Deus Ex: Human Revolution.

Embracer Group will own over 50 new IPs as part of its growing portfolio. The list includes iconic names like Tomb Raider, Deus Ex, and more, just to cover a couple of big names.

Previous acquisitions for the company include Borderlands developer Gearbox, as well as the iconic 4A Games of Metro fame. This new move will put the titles in progress for various studios within the umbrella of the publisher well into the dozens. Back in 2020, that number was over 50, and it’s likely going to remain around that mark. The future is looking bright for the publisher, and its subsidiaries.

This acquisition will that Square Enix will effectively sell of most of its assets outside of Asia. The company will likely downsize or absorb what remains of its EU and NA branches over the next few months. What happens to the remaining IPs and assets remains to be seen though.

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