It had been almost a long time since we had heard of a buyout. However, it was for without counting on the appetiteEmbracer Group who just introduced themselves historic agreement with Square-Enix. This is announced by the European group the acquisition of three studios and some high-profile licenses from the Japanese publisher, including Tomb Raider.
The consolidation of the industry will therefore continue in early 2022. After the takeover of Bungie by Sony or Activision-Blizzard by Microsoft, Square-Enix is separating from several units. Three studios thus join the purse of the Swedish giant:
- Eidos Montreal : Marvel’s Guardians of the Galaxy, Shadow of the Tomb Raider
- crystal dynamics : Marvel’s Avengers, Tomb Raider, Perfect Dark in collaboration with the initiative
- Square Enix Montreal : Hitman Sniper, Deus Ex Go
Spread over eight locations, these studios represent approx 1100 employees used to working on AAA of all kinds or on mobile experiences. Also note that the concluded agreement also contains symbolic licenses such as e.g Tomb Raider, deus ex, Thief, inheritance from Cain as well as over 50 other back catalog franchises. Everything must be completed between July and September this summer.
Today the Nordic group represents a total of 14,000 people working in its 124 owned studios. We also told you last February that the financial results are in good shape and the desire to evolve through future acquisitions is very present at Embracer. After expanding its activities following the integration of Asmodee and Dark Horse, Embracer Group had stated that it had a turnover of just over 750 million dollars to satiate his insatiable appetite. Today’s acquisition represents around $300 million, with some money left for new surprises…
On paper, the operation seems sufficiently advantageous for the buyerone may wonder whether this maneuver might not obscure other negotiations (like a possible takeover of Square Enix by Sony?). Of course, we all hope that some past achievements will return, such as: inheritance from Cain, front of the stage and you can imagine that fits into Embracer Group’s plans. Finally, remember that Crystal Dynamics is currently fully involved in the development of Perfectly dark whose official release window is awaited.
We are excited that Crystal Dynamics is taking these next steps with their studio. Our teams have made great strides in building Perfect Dark together as co-development partners, and we will continue this work with them in their next chapter. https://t.co/9gG2VGUV8u
— The Initiative (@TheInitiative) May 2, 2022
