Square Enix Sells Crystal Dynamics, Eidos-Montréal, IPs including Tomb Raider and more in $300 million Deal

Rise of the Tomb Raider

Square Enix announced the sale of a number of studios and an extensive catalogue of IPs to Embracer Group today.

The $300 million deal includes Crystal Dynamics, Eidos Montréal and Square Enix Montréal, intellectual property rights to franchises like Tomb Raider, Deus Ex, Thief and more than 50 back-catalogue games from Square Enix.

”Embracer is the best kept secret in gaming: a massive, decentralized collection of entrepreneurs whom we are thrilled to become a part of today,” Square Enix America and Europe CEO Phil Rogers said in a news release. “It is the perfect fit for our ambitions: make high-quality games, with great people, sustainably, and grow our existing franchises to their best versions ever. Embracer allows us to forge new partnerships across all media to maximize our franchises’ potential and live our dreams of making extraordinary entertainment.”

Embracer Group is the parent company of a group of businesses in PC, console and mobile development as well as board games and other related media, like Gearbox Entertainment, THQ Nordic, Coffee Stain, Koch Media, Amplifier Game Invest, Saber Interactive, DECA Games, Easybrain, Asmodee and Dark Horse. The company includes 119 internal game studios.

”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,” Embracer Group Co-founder and CEO Lars Wingefors said. “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.”

The deal is expected to close between July and September and about 1,100 employees from three studios in eight global locations will join the company.

Embracer Group said the company “sees an opportunity to invest” in the Tomb Raider, Deus Ex, Legacy of Kain and Thief franchises.

Once the sale closes, Embracer Group will be expecting the release of more than 230 games, including 30 AAA games.

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Managing editor over video games here at Cinelinx. Let me lose myself in Animal Crossing and Stardew Valley for days, thanks. KakeBytes is my podcast adventure through gaming history.