Multiple Square Enix Studios, Including Tomb Raider Devs, Have Been Bought Out
Credit: Crystal Dynamics
Multiple Square Enix studios, including Tomb Raider developer Crystal Dynamics, have been bought out.
The big acquisition has been made by THQ Nordic parent company, Embracer Group. The deal includes Square Enix’s western studios (so not over in Japan), such as Crystal Dynamics, Square Enix Montreal, Eidos-Montreal and more. This now means that properties including Tomb Raider, Deus EX, and Legacy of Kain are now under new ownership.
SQUARE ENIX HOLDINGS CO., LTD. enters into an agreement with Embracer Group for the acquisition of Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and IP.
Press Release: https://t.co/ooOYacp4PW pic.twitter.com/2PmQE967gk
— Square Enix (@SquareEnix) May 2, 2022
The deal is worth $300 million and is expected to be finalised between July and September 2022. In my opinion, even though $300 million is a sum that we can only dream about, in the grand scheme of video game studio and property ownership, it seems like a fantastic deal on Embracer’s part.
The acquisition includes a total of over 50 back-catalogue games and around 1,100 company employees. According to the Square Enix press release: “Going forward, the Company’s development function will comprise its studios in Japan, Square Enix External Studios, and Square Enix Collective.”
Credit: Square Enix
The statement continues: “The Company’s overseas studios will continue to publish franchises such as JUST CAUSE, OUTRIDERS, and Life is Strange.” The publisher also states that funds from the deal will support “investments in fields including blockchain, AI, and the cloud.” This means that Square Enix will retain the aforementioned properties.
It will certainly be an interesting time for the Tomb Raider series, especially as the development of a new game was only recently announced. What are your thoughts on this massive acquisition? Let us know across our social media channels.
Featured Image Credit: Square Enix