In a year filled with shocking acquisitions, Square Enix just adds to that pile. Going for a surprisingly small figure, Embracer Group is taking control of many beloved IPs. Here's what we know so far.
Embracer Group acquires tonnes of Square Enix IPs
Today, Square Enix and Embracer Group have announced that Embracer are taking control of a handful of development studios including Crystal Dynamics, Eidos-Montréal and Square Enix Montréal. In this deal, they get over 50 games including the likes of Tomb Raider, Deus Ex, Thief and more. This will cost them $300m - a surprisingly good deal for what they're getting.
Of this acquisition, Lars Wingefors, Co-founder and Embracer Group Group CEO, said:
”We are thrilled to welcome these studios into the Embracer Group. We recognize the fantastic IP, world class creative talent, and track record of excellence that have been demonstrated time and again over the past decades. It has been a great pleasure meeting the leadership teams and discussing future plans for how they can realize their ambitions and become a great part of Embracer"
The future of Square Enix
In their official press release, Square Enix illuminated a little light on their decision. In this, they stated that the money made from this sale would help them further move into fields like blockchain, AI, and the cloud. They said:
The Transaction will assist the Company in adapting to the changes underway in the global business environment by establishing a more efficient allocation of resources, which will enhance corporate value by accelerating growth in the Company’s core businesses in the digital entertainment domain. In addition, the Transaction enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud. The move is based on the policy of business structure optimization that the Company set forth under the medium-term business strategy unveiled on May 13, 2021.
If you're a fan of classic Square Enix, this is a bit of a scary announcement, signifying a move even further away from games. Though these components can move into games, the focus on the blockchain suggests a non-consumer-friendly approach to the way it makes its profits in the future. They will still retain their Japanese studios and a handful of other development teams like those heading Just Cause, Outriders and Life is Strange but the future is unsure for Square Enix.