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This morning we woke up to a huge announcement, Embracer Group has acquired Crystal Dynamics, Eidos Montreal and Square Enix Montreal studios (last one, for obvious reason will change its name), along with their entire catalogue of IPs, including Tomb Raider, Deux Ex, Thief, Legacy of Kain and over 50 titles from Square Enix Holdings.
This acquisition also includes the approximately 1,100 employees who worked at these three studios.
The purchase was made for approximately USD 300 million and will be effective in the second quarter of Embracer’s fiscal year 22/23, i.e. between July and September 2022).
With this change, Square Enix will now focus solely on its original Japanese video games, such as the highly acclaimed Final Fantasy and Kingdom Hearts. At the same time, thanks to this sale, now Square Enix will be able to tackle the new business model based on NFTs and blockchain.
More about Embracer Group
The company, headquartered in Karlstad, Sweden, has a global presence through its 10 operating groups: THQ Nordic, Koch Media, Coffee Stain, Amplifier Game Invest, Saber Interactive, DECA Games, Gearbox Entertainment, Easybrain, Asmodee, and Dark Horse, to which Crsytal Dynamics, EIDOS Montreal and Square Enix Montreal will now be added.
The company, formerly Nordic Games (2004-2011), changed its name following the acquisition of several video game companies, including comic books, to address a new business strategy.
The company rescued forgotten or endangered sagas, such as Darksiders 2, and thanks to the support of this company, this sagas was able to continue releasing its games. This purchase may bring in the future the return of Legacy of Kain, since now after the acquisition of Crystal Dynamics, they also own the rights to this videogame.
The company is a big fan of the videogames history, and at their headquarters they are building a large archive of physical games that are part of the history and culture of video games, in the following photo, we can see their CEO, David Boström holding the famous Tetris game.
