Embracer Group enters into an agreement to acquire Eidos, Crystal Dynamics, and Square Enix Montréal

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.

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Orchard498d ago

300m for all of those studios and IPs seems like a complete steal. Crazy.

RaidenBlack498d ago

Square Enix says the transaction (which was 'only' $300 million) "enables the launch of new businesses by
moving forward with investments in fields including blockchain, AI, and the cloud."

SE still has Just Cause, Outriders, Life is Strange

blackblades498d ago

And there jrpgs, feel like its a good thing cause they weren't doing anything with them.

blackblades498d ago

So ya disagree and rather have square keep the ips and definitely not see another thief, deus ex etc again

phoenixwing498d ago

it's probably some diehard SE FF fans who don't want to admit that square is eventually going to put blockchain in it for money's sake. The writing is literally on the monitor wall now. SE admits they want to do blockchain asap and is willing to let go of ip's that are fan favorites for a quicker cash in rather than working on quality. Or at least that's how i see it.

darthv72498d ago

Interesting.... so this was all SE western stuff and none of the JP stuff. Is CD still assisting on Perfect Dark after this?

darthv72498d ago

So I just read that CD will still be working on PD.

ABizzel1498d ago

I said Square was going to do this months ago, they just have no real gains in Western development and they don't know what to do with those studios.

However, this was a dumb decision IMO to sell at this cost and at this time when someone like MS would have probably spent closer to $1 billion on them.

I honestly wouldn't be surprised if Sony offers Square a Bungie-like deal at this point.

ABizzel1498d ago (Edited 498d ago )

If anything this is probably confirmation that Microsoft cannot buy any other publisher or developer for the rest of the year until they get confirmation that the Activision-Blizzard deal goes through, because otherwise, they would have easily been able to buy these studios for $1 billion and had all their content in GamePass by their June Showcase. Crystal is basically a hired developer for them right now on Perfect Dark, and Edios and Sqaure Montreal were both talented / good picks as well.

Embracer Group
This is great for Embracer Group, and goes to show that once again an acquisition is not just about who spends the most money, as there were plenty of companies that could have easily outbid them, yet Embracer was still the one to acquire these studios. They're becoming a gaming and entertainment powerhouse with Dark Horse comics, Gearbox (Borderlands / Brothers in Arms), Deep Silver (Saint's Row / Dead Island / Time Splitters now), Warhorse (Kingdom Come), Saber Interactive (Crysis Remastered / Co-developed a lot of Halo modes/content / Timeshift / and a bunch of mid but at least decent mid), THQ Nordic (Darksiders), and now Tomb Raider, Deus Ex, Legacy of Kain, and more.

I also think this was best for SE as well, since they had awful projections on the success they expected from their western teams, and didn't have any idea what to do with them after throwing them to into Marvel devs and failing. This will allow them to focus significantly more on JRPGs the genre they're good at (however, they've been slipping here).

SE / Sony Acquisition
This also brings up another thing what does Square's Market Value look like now as it was just below $5 billion prior? And is Square the publisher people were claiming Sony was trying to buy. Realistically it makes sense, the two have had several exclusive AAA games, and Sony is about owning and expanding AAA IP and Final Fantasy is an ideal IP for that. Sony has an amazing partnership with not only Square but Disney and Marvel and Kingdom Hearts is a bridge there and if I remember correctly they didn't show what platforms it was coming to which makes no sense considering part 3 came to all of them. Final Fantasy games / movies, Kingdom Hearts games / movies, Dragon Quest anime seasons, Life is Strange Netflix series, etc....

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RaidenBlack498d ago

WB Studios is/are rumored to be up for sale as well ...

blackblades498d ago

As well rumors of Sony getting them, but rather have a 3rd party getting them.

Eonjay498d ago

I think this basically means that Sony is buying Square. I'm not sure about the rest.

ABizzel1498d ago (Edited 498d ago )


Each studio is allegedly up for sell, but that doesn't guarantee the IP's. So I agree with you to an extent that if it's just the talent / studio name Sony is the most likely buyer. But considering they're being sold individually and how AT&T is all about money / shares / and expansion of IP I don't think Sony is buying all of them, especially when they denied MS for $4 billion allegedly back in 2020.

Really only Rocksteady, Netheralm, Monolith, and Avalanche (the Harry Potter dev, not the Contraband dev) make sense IMO.

Rocksteady is hands down the best developer there with their experience with Batman Arkham franchise and working on an upcoming multiplayer Suicide Squad (aka progressing to live-action). So, they are a perfect fit to add to Sony's Marvel exclusives. They would make a killer Daredevil / Black Panther / X-Men co-op / etc...

Netherealm has proven they can make good / great fighting games with Mortal Kombat being back in high demand, and Injustice is a good 2nd option. Sony owns EVO, getting them and having them make two exclusive fighting games makes sense.

Monolith did make FEAR, the upcoming Wonder Woman, and Middle-Earth which IMO puts them a step above Avalanche until we see Harry Potter for a similar genre, but also having diversity with shooters.

Avalanche just had a solo state of play for a multiplat-game, which I believe is the first ever. While the combat of Harry Potter looks....acceptable, what truly looks great about the game is the world / setting and the creativity and scale of everything. Now allow this developer creative freedom to make a WRPG with a Fantasy setting and better gameplay, and they're a potential AAA studio in the making.

TT makes Lego games which isn't a fit for PS outside of maybe working on Astro spin-offs. And WB Games Montreal is basically the B-tier after Rocksteady by making the less popular Batman games, but they're still a solid developer (Arkham Knight Wii U, Batman Origins, and upcoming Gotham Knights).

anubusgold497d ago

WB doesnt matter all their Ips are rented out from someone else. Even mortal kombat will be lost and can WB sell Mortal Kombat and take it away from Netherrealm because they dont on their IP.

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-Foxtrot498d ago (Edited 498d ago )

Yeah for 300 million I'm super surprised no one else went for them to be honest.

I hope they embrace Classic Tomb Raider

GamesAsAService498d ago

I think most of the big players don't want to generate additional regulatory scrutiny after their big purchases (Sony - Bungie, Microsoft - Activision). They want to fly under the radar until the deals have been approved. I am assuming that the recent announcements of both Xbox and Sony hiring people to find new acquisition targets means as soon as these deals are in the bag, they will move forward with further acquisitions.

Otherwise I agree with you, this would have been easy pickings for either company.

Michiel1989498d ago

i rather have a new legacy of kain, or a complete remake if a new game cant be justified or something.

smashman98498d ago

I hate you. For making that awesome pun.

patterson498d ago

On the surface it may seem like a good deal but they’re also buying all their debt.

Zhipp498d ago

Asa subsidiary they wouldn't have any debt, no? Square enix would've been the ones taking the losses.

Melankolis498d ago

We don't know the wholse story (we may never will), 300m for all those assets seems too good to be true without it's downside...

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RaidenBlack498d ago

"These are some of the best PC IPs of all time and SE somehow has no idea how to make them successful according to their ballooned expectations. Please sell." ~ Digital Foundry's comment on the news.

RaidenBlack498d ago (Edited 498d ago )

Here's hoping we get a Sleeping Dogs sequel and Legacy of Kain revival.
*forgot to add: a proper new Thief title as well.

DarXyde498d ago

A Sleeping Dogs sequel would be great!

I personally had much more fun with that than GTA V.

RedDevils498d ago

I take sleeping do/true crime over GTA.

porkChop498d ago (Edited 498d ago )

I hope the Sleeping Dogs IP is included, they bought over 50 IP from SE's back catalog so it's likely.

deleted497d ago (Edited 497d ago )

True, Thief started off as a great series back in the day!

I feel as if we had been....wait for it....robbed of a proper sequel up until now!

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blackblades498d ago

Sounds like good news for us for now, let's see if it changes in the future

VersusDMC498d ago

Good news for which side? I personally am more happy that money going to fund eidos IP is now going to Square IP.

I have been meh on the recent Eidos games and i don't really place the blame on Square.

Flawlessmic498d ago

What a steal honestly, wouldve preffered sony or microsoft to be the ones buying but hey atleast its not tencent.

blackblades498d ago

I disagree, I rather have 3rd party getting them.