There is an air of sales at Square Enix, currently owner of Legacy of Kain and Tomb Raider, which may soon be sold. Embracer Group, a Swedish holding company that already incorporates companies such as Gearbox And THQ Nordicannounced that there may be an agreement tonight to purchase some historical studios owned by Square Enix.
The well-known software house, as we also indicated in this article, would be working on new PlayStation exclusives, which could apparently pass into the hands of the holding in question.
It is fair to point out that we are not in the final stages of the sale, but only in the initial stages where a proposal will be madeand agreements drawn up that could lead to signature by the end of the year.
The announcement’s press release states that, if approved, the deal will be for $ 300 million. A figure with which Embracer Group hopes to acquire:
- The Crystal Dynamics studios, Eidos Montreal and Square Enix Montreal (which will likely change its name), which have around 1100 employees worldwide.
- The catalog of IPs that are owned by those studios, including Deus Ex, Tomb Raider, Thief, Legacy of Kain, and everything that revolves around the 50 video games of the studios released to date. Don’t forget that Crystal Dynamics would currently be working on several AAA titles, including a new next-gen Tomb Raider.
Square Enix acquired Crystal Dynamics and Eidos in 2009, while at the same time supervising important reboots such as Tomb Raider and Deus Ex. Later, licensed titles were also released, such as Marvel’s Avengers and Marvel’s Guardians of the Galaxy, which almost became memes, as despite received high ratings from critics and sold many copies, for Square Enix they remained “underrated” video games.
The first question that users could ask themselves would be “what will happen with those series?”, The Embracer Group press release partially answers:
The acquisition will bring new IPs and new chapters of beloved old series, including a new Tomb Raider chapter. This acquisition by Embrace Group intends to create an independent gaming and entertainment ecosystem. We were particularly impressed by the variety of IPs from Square Enix studios, which own brands with global potential such as Tomb Raider or Deus Ex, as well as the ability to create AAA video games for a large fan base. There are exciting opportunities to grow studios and maximize their business opportunities.
This is all quite vaguebut it’s still better than Square Enix’s silence in recent years on the Deus Ex saga. The acquisition is expected to be completed during the Embracer Group’s second financial quarter of 2022/2023, likely between July and September 2022.
As a last note, it must be remembered that Embracer Group spent 1.3 billion dollars just to acquire Gearbox, in this case it would get much more for 1 billion dollars less.
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