Embracer Group completes acquisition of Tomb Raider and Deus Ex studios
Summary
Embracer Group has today announced that its acquisition of Crystal Dynamics, Eidos-Montréal and Square Enix Montréal is complete, following the agreement in May 2022. • READ MORE: How Atari’s new CEO is pressing continue for the Californian software company The acquisition sees Embracer Group taking ownership of the three development studios alongside a host of intellectual properties (IPs) including Tomb Raider, Deux Ex, Legacy of Kain and “more than 50 back-catalogue games from Square Enix Holdings Co., Ltd.” according to an announcement on its website. Today (August 26) Embracer Group has announced that “all conditions for the transaction, including regulatory approvals, have now been fulfilled and the transaction may be completed.” The acquired studios will form the 12th operative group under the leadership of Square Enix America and Europe CEO, Phil Rogers. Square Enix, whose franchises include the likes of Final Fantasy and Dragon Quest, plans to use the proceeds from the sale of the western-based studios to focus on the metaverse including aspects of blockchain, artificial intelligence and the cloud. Back in May, Embracer Group said it was interested in putting out sequels, remakes, remasters and spinoffs from the Square Enix-owned studios in the acquisition.