This year is already filled with high-profile acquisitions. In addition to Microsoft’s mega deal and Sony’s purchase of Bungie, the Embracer Group now also joins the list. These have namely in one press release announced on May 2nd, 2022 that they would own the majority of Square Enix’s western studios $300 million takes over, which is around 285 million dollars. Closing of the deal is scheduled for the second quarter (July-September 2022) of the 2022/23 financial year.
The studios include the Californian Crystal Dynamics and the two Canadian studios Eidos and Square Enix Montreal. In addition to more than 1100 employees, the Swedish Embracer Group also buys over 50 valuable brands such as Tomb Raider, Deus Ex and Thief. Interestingly, however, the European Square Enix titles are excluded from the deal. Series like Just Cause and Outriders will remain with Square Enix for the time being.
Guest author Petra Fröhlich analyzes what’s behind the deal in her column:
more on the subject
Why Square Enix is parting ways with Lara Croft
The CEOs have already published statements
Lars Wingeforsco-founder and CEO of Embracer Group made the following statement in the press release:
We are very pleased to welcome these studios to the Embracer group. We recognize the fantastic intellectual property, world-class creative talent and excellence demonstrated time and again over the past few decades. It was a great pleasure meeting the leadership teams and discussing future plans to achieve their ambitions and become an important part of Embracer.
Also Phil Rogersthe CEO of Square Enix Americas and Europe has already commented on the deal:
Embracer is the best kept secret in the gaming industry: a massive, decentralized collection of entrepreneurs that we’re thrilled to be a part of today. Embracer fits perfectly with our ambitions: we want to develop high quality games with great people in a sustainable way and grow our existing franchises to their best versions. Embracer enables us to forge new partnerships across all mediums to maximize the potential of our franchises and realize our dream of exceptional entertainment.
Europe’s largest employer in the games industry
The Swedish Embracer Group is one of the most important players in the industry alongside Ubisoft in Europe. As soon as the deal is closed, the Embracer Group will have more than 14,000 employees, of which 10,000 game developers will be spread across 124 studios. In the same breath, the publisher announced that more than 230 games are said to be in development, of which 30 are said to be triple-A titles.
What do you expect from the takeover? Are you looking forward to the upcoming works under the new publisher and do you miss an IP in particular? Tell us in the comments!