Square Enix Sells All Its Western Studios for Just $300 Million
In a surprising move, Square Enix has decided to sell all its Western studios to Embracer Group AB, the Swedish video game and media holding company that has acquired other IPs from defunct publishers like THQ and JoWooD. What’s shocking is that the deal will close for just $300 million, a very low figure considering what Embracer is getting for the money.
Under the agreements, Embracer will acquire the development studios Crystal Dynamics, Eidos-Montreal, Square Enix Montreal, and a catalog of IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 back-catalog games from Square Enix.
Additionally, the acquisition includes about 1,100 employees across three studios and eight global locations. Finally, the deal also includes the continued sales and operations of the studios’ more than 50 back-catalog games.
“We are thrilled to welcome these studios into the Embracer Group. We recognize the fantastic IP, world class creative talent, and track… (read more)
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