Embracer to acquire Eidos, Crystal Dynamics, and Square Enix Montreal | IT World Canada News
Summary
Sweden’s Embracer Group AB has announced that it has entered into an agreement to acquire the development studios Crystal Dynamics, Eidos-Montreal, Square Enix Montreal, and a catalogue of intellectual properties (IP) including Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 back-catalogue games from Square Enix Holdings. The total purchase price amounts to US$300 million on a cash and debt free basis, to be paid in full at closing. As usual, the transaction is subject to various regulatory and other external approvals and is expected to close during the second quarter of Embracer’s current financial year (July-September 2022). 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. The transaction includes two of the most reputable art and animation (AAA) studios across the industry: Crystal Dynamics and Eidos Montreal, with a unique ability to deliver blockbuster hits.