Embracer Group set to acquire Crystal Dynamics, Eidos Montreal, and Square Enix Montreal
Well that's a surprise!
If you’ve been following game industry news lately, you know that both Sony and Microsoft have been making some bigtime acquisitions. Looks like they’re not the only ones in the business of scooping up other companies, though.
Embracer Group has announced an agreement to acquire Crystal Dynamics, Eidos Montreal, and Square Enix Montreal from Square Enix. This would give them access to the Tomb Raider, Deus Ex, Thief, Legacy of Kain, and 50+ other franchises. This deal equals $300 million on a cash and debt-free basis, to be paid in full at closing.
SquareEnix "giving up" Tomb Raider (and so many other IPs) is wild.
On paper, to us, for sure. But for some god-forsaken reason Square Enix never seemed happy with the sales they got from that franchise, as well as Deus Ex. It's becoming increasingly obvious through the years that Square Enix is very poorly managed.
For context, Embracer Group owns the likes of THQ Nordic, Aspyr, Sabre Interactive, Gearbox and more.
These are some weird times. Companies are getting acquired like nothing and even parts are for sale too it seems.