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Yusuf Balogun
Yusuf Balogun
Yusuf is an aspiring Journalist and Health law expert with a special focus on technology innovations. He is a writer at Right for Education, Libertist Centre for Education, Qwenu, and Editor at Gamji Press, UDUS.

Today, Square Enix and Embracer Group have announced that Embracer is taking control of a handful of development studios, including Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and Plus IPs for $300 Million.

They get over 50 titles in this bargain, including Tomb Raider, Deus Ex, Thief, and more. This will set them around $300 million, which is a bargain considering what they’re getting.

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For this and other pending deals, Embracer has received additional long-term loan funding commitments. The company’s existing Operational EBIT projection for FY 21/22, FY 22/23, and FY 23/24 has been confirmed.

The acquisition is expected to close during the second quarter of Embracer’s financial year 22/23, July-September 2022, subject to appropriate regulatory and other external approvals.

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The studios represent a world-class creative team of 1,100 individuals spread across three studios and eight global locations, including Crystal Dynamics and Eidos Montréal, two of the industry’s most respected AAA companies. The studios have a one-of-a-kind ability to consistently produce blockbuster hits decade after decade.

A compelling pipeline of new chapters from beloved brands and fresh IPs, including a new Tomb Raider game, is part of the deal. Embracer’s objective of developing a leading independent global gaming and entertainment ecosystem is being furthered with this acquisition.

Embracer was particularly impressed by the studios’ diverse portfolio of unique IP, which includes well-known worldwide franchises like Tomb Raider and Deus Ex, as well as evidence of the studios’ capacity to build AAA games with big and expanding fan bases. There are compelling reasons to grow the studios organically in order to maximize their commercial potential.

Both corporations issued press releases announcing the news. According to Embracer, the purchase will close during the second quarter of Embracer’s financial year, 22/23 July-September 2022.

According to Square Enix’s news release, the transaction enables new businesses by going forward with investments in domains such as blockchain, AI, and the cloud. The Japanese corporation also stated that series such as Just Cause, Outriders, and Life is Strange will continue to be published.

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