Embracer Group Enters Agreement to Acquire Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal; Deal Includes More Than 50 IPs for $300 Million

Embracer Group has shared a press release revealing that they have entered into an agreement with Square Enix to acquire Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal, along with the IPs of these studios, for $300 million.

The agreement includes Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 back-catalogue games from SQUARE ENIX HOLDINGS CO., LTD. (“Square Enix Holdings”).

Here’s a quote from the company:

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

”Embracer is the best kept secret in gaming: a massive, decentralized collection of entrepreneurs whom we are thrilled to become a part of today. 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,” says Phil Rogers, Square Enix America and Europe CEO.

Embrace Group shared that this purchase includes an estimated 1,100 employees across the studios. The acquisition includes the new Tomb Raider game that is currently in development.

However, Square Enix’s press release has clarified that they will keep publishing the Just Cause, Life is Strange, and the Outriders IPs.