IT House May 3 news, in the game industry, yesterday's biggest news is Square Enix for $300 million to sell its European development studios (Eidos Montréal, Square Enix Montréal and Crystal Dynamics) to Embracer Group.
Subsequently, the Japanese company issued a press release with some financial details and motives for the acquisition.
SE says that from now on, its goal is to focus on blockchain, artificial intelligence and cloud computing, as its president Yosuke Matsuda has said, who believes that "blockchain and games are very important in incentivizing users to create content."
IT House understands that Square Enix said it will continue to release new works in Europe and the United States, such as "Avalanche", "Pioneer" (People Can Fly) and "Dontnod, Deck Nine".
The transaction will help the Company adapt to the changes that are taking place around the world
By establishing a more efficient allocation of resources, enterprise value will be enhanced by accelerating the growth of the company's core business in the digital entertainment space.
In addition, through investment in blockchain, artificial intelligence, cloud computing and other fields, new businesses can also be launched. This move is based on the business structure optimization policy proposed in the Company's medium-term business strategy announced on May 13, 2021.
The transaction will also provide an opportunity to better integrate our overseas publishing functions with our organization in Tokyo, revisiting the current governance structure and associated reporting lines. We will also promote integrated group management with the goal of maximizing global revenue from future games launched by the Group's studios in Japan and overseas.
In the future, the company's development functions will include its studios in Japan, Square Enix External studios and Square Enix Collective. The company's overseas studios will continue to distribute franchises such as JUST CAUSE, Riders and Life is Strange.
"Embracer announces the acquisition of Crystal Power, Square Enix Montreal, etc., and won the IP of "Tomb Raider", "Breaking Siege", "Thief" and so on"