Embracer Group announced that they will buy the three studios of Crystal Power, Eidos Montreal and SE Montreal for $300 million, as well as more than 50 games such as Tomb Raider, Deus Ex, Thief and Kane's Legacy.
The transaction is subject to regulatory approval and is expected to close between the second quarter of this fiscal year (July-September 2022).
Lars Wingefors, CEO and co-founder of the Embrece Group, said:
We are very welcome to join the Embrece Group. We recognize great IP, world-class creative talent, and the dazzling results of gaming over the past few decades. It was a pleasure to meet their leadership team and discuss how they could achieve their goals within the company in the future.
Lars Wingefors
In the announcement, Square Enix USA and Europe CEO Phil Rogers said:
We're excited to be part of the Embrece Group today, which is a perfect fit with our ambition to produce high-quality games with great talent in a sustainable way and to grow our existing IP even better." The Embrece Group enables us to forge new partnerships across multiple channels to maximize the potential of IP and realize our dreams.