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

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

Tomb Raider, Thief, and Deus Ex are among more than 50 games being acquired in the deal along with their development studios.

Media holding company Embracer Group has agreed to acquire several Square Enix game studios and their IP for USD $300 million, the companies announced today. Once the deal is finalized, Embracer Group will own the development studios Crystal Dynamics, Eidos-Montreal, and Square Enix Montreal. The company will also acquire various IPs and a back-catalogue of over 50 Square Enix games, including Tomb Raider, Deus Ex, and Legacy of Kain.  The acquisition includes roughly 1,100 employees across three studios and eight global locations, according to Embracer’s press release.

“We are thrilled to welcome these studios into the Embracer Group,” said 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.”

Based on today’s announcement, we may see a new iteration of Tomb Raider sooner than later. “The acquisition brings a compelling pipeline of new installments from beloved franchises and original IPs, including a new Tomb Raider game,” reads the Embracer press release.

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The acquisition deal is set to finalize during the second quarter of Embracer’s financial year, which will be between July and September 2022. Stay tuned to Guide Stash for more gaming news and updates.