Updated News Around the World

Embracer Group to acquire Crystal Dynamics, Eidos Montreal, and Square Enix Montreal

Major acquisition deal struck with Square Enix

The bottomless pit of cash that is the Embracer Group has gone on another spending spree, announcing its intention to acquire three studios from legendary Japanese developer/publisher Square Enix. The company has entered into an agreement to purchase studios Crystal Dynamics, Eidos Montreal, and Square Enix Montreal for a reported sum of around $300 million USD.

“We are thrilled to welcome these studios into the Embracer Group,” Embracer Group CEO Lars Wingefors said in a press release. “We recognize the fantastic intellectual property, 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.”

“Embracer is the best-kept secret in gaming,” is the curious statement from Square Enix America CEO Phil Rogers. “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.”

Alongside the acquisition of Crystal Dynamics, Eidos Montreal, and Square Enix Montreal, Embracer Group will own the studios’ respective IP catalogs, which include popular and financially successful franchises such as Deus Ex, Thief, Legacy of Kain, and, of course, Tomb Raider. The deal, set to close in fall 2022, also sees Embracer add 50 previously released titles to its big book of licenses, potentially including the great Marvel’s Guardians of the Galaxy and the not-great Marvel’s Avengers.

The three Square Enix studios join Embracer Group’s mighty portfolio of developers and publishers which already includes THQ Nordic, Gearbox Entertainment, Koch Media, and Saber Interactive as well a huge range of subsidiary and partner studios such as Coffee Stain, DECA Games, Asmodee, and Easybrain.

Chris Moyse

Senior Editor – Chris has been playing video games since the 1980s. Former Saturday Night Slam Master. Graduated from Galaxy High with honors. Twitter: @ChrisxMoyse

For all the latest Games News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! NewsUpdate is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.