The Swedish games company Embracer Group has continued the recent spree of big acquisitions by snapping up the Crystal Dynamics, Eidos-Montreal and Square Enix Montreal studios.
The acquisition of three Square Enix studios, and a number of big IPs, gives the company control of franchises like Tomb Raider, Deus Ex, Thief, Legacy of Rain and another 50 “back catalogue games” from across the three studios. The first order of business is to revive Deus Ex with a new title build upon Unreal Engine 5.
“At this time, we are crazy people who have decided to revive the Deus Ex IP as our first game,” said David Anfossi, the boss at Eidos Montreal, during a conference call (as reported by Shack News) said during the Embracer Group’s conference call. “A new team, a very complex production, a new tech, and a new studio, an easy challenge.”
If you haven’t heard of the Embracer Group they’re the holding company behind studios like Gearbox, Saber Interactive and THQ Nordic. It seems to have a bit of a bargain here because the purchase price for the acquisition is just $300m (around £239m). Considering the potential and history behind the Tomb Raider franchise in particular, it doesn’t seem as if it’ll take Embracer long to recoup its investment.
The purchase doesn’t include Square Enix franchises like Just Cause, Outriders, and Life is Strange, which will continue to be published by the Japanese firm. In a press release Square-Enix said it plans to use the sales to fund “the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.”
“Going forward, the company’s development function will comprise its studios in Japan, Square Enix External Studios, and Square Enix Collective. The company’s overseas studios will continue to publish franchises such as Just Cause, Outriders, and Life is Strange.”
The transaction will be completed this summer, as long as it’s approved by the relevant regulators.
“We are thrilled to welcome these studios into the 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,” says Lars Wingefors, Co-founder and Group CEO, Embracer Group.