Swedish video game and media holding company Embracer Group has zeroed in on agreement that involves the acquisition of Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and a slew of IPs from each development studio.
The catalogue includes popular games such as Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 or so titles from Square Enix Holdings.
This essentially involves an estimated 1,100 employees across three studios and eight global locations. The total purchase price amounts to USD 300 million on a cash and debt free basis, to be paid in full upon sealing the deal. Due to various regulatory and other external approvals that may leave more questions asked, Embracer will be holding a special webcast on May 2, 2022.
Lars Wingefors, Co-founder and Group CEO of Embracer Group shares his thoughts.
”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.”
Phil Rogers, CEO of Square Enix America and Europe adds more.
”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.”
There’s very little buzz when it comes to huge media holding companies and how they operate behind the scenes. However, as of late, given how popular game development studios like Turtle Rock undergo such acquisitions, a bit more light gets shed on the inner machinations of the industry.
It’s definitely intriguing to see how this unfolds for the aforementioned game studios.
Source: Embrace Group’s official statement