Image: Square Enix

Embracer Group, the Swedish video game holding company and parent company of Gearbox, Saber Interactive and THQ Nordic (among many others), has reached an agreement to acquire several studios and a selection of Square Enix’s intellectual property.

Included in the deal are three studios – Crystal Dynamics, Square Enix Montréal and Eidos-Montréal – as well as a catalog of intellectual property and games, among them Tomb Raider, deus ex, Thief, inheritance from Cain and over 50 back catalog titles. The acquisition includes more than 1,100 employees in the three studios, the total purchase price amounts to 300 million US dollars.

The news was released via a press release from both companies. Embracer expects the transaction to “close during Embracer’s second quarter of fiscal year 22/23 (July-September 2022).”

Square Enix explains in his press release that “the transaction enables the creation of new companies by driving investments in areas such as blockchain, AI and cloud”. The Japanese company also says it “continues to launch franchises such as just cause, pioneerand life is strange“.

Upon completion of this transaction, the US will be Embracer’s #1 country by number of game developers, and Canada will be #2. Overall, pending closures, Embracer will have more than 14,000 employees, 10,000 dedicated game developers and 124 in-house studios. Embracer’s upcoming content pipeline includes 230+ games with 30+ AAA titles. This acquisition will expand Embracer’s current AAA segment, and Embracer will have one of the largest pipelines of PC/console gaming content in the industry, spanning all genres.

This is the latest in a string of high-profile acquisitions in the video game industry that Microsoft is in the process of a Acquisition valued at US$68.7 billion by Activision Blizzard, upon pickup Bethesda and its IP in 2020.

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