Embracer Group, the Sweden-based parent company of quite a few development studios and IPs these days, has entered into agreement to acquire several more from Square Enix according to an announcement the company put out this morning.
Apparently Square Enix didn’t know what to do with their Tomb Raider, Deus Ex and Thief IPs, or development studios Eidos, Crystal Dynamic, Eidos-Montr?al and Square Enix Montr?al, so they are in the process of selling them off to Embracer Group, which already own THQ Nordic, Koch Media/Deep Silver, Coffee Stain AB, Saber Interactive, DECA Games, Gearbox Entertainment and quite a few IPs and back catalog releases.
The deal is not yet final and is slated to cost about $300 million in total, so make sure to check back for any updates.
Embracer Group AB (?Embracer?) has entered into an agreement to acquire the development studios Crystal Dynamics, Eidos-Montr?al, Square Enix Montr?al, and a catalogue of IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 back-catalogue games from SQUARE ENIX HOLDINGS CO., LTD. (?Square Enix Holdings?). In total, the acquisition includes ~1,100 employees across three studios and eight global locations. The total purchase price amounts to USD 300 million on a cash and debt free basis, to be paid in full at closing. Embracer has secured additional long-term debt funding commitments for this and other transactions in the pipeline. The company today reiterates its current Operational EBIT forecast for FY 21/22, FY 22/23, and FY 23/24. The transaction is subject to various regulatory and other external approvals and is expected to close during the second quarter of Embracer?s financial year 22/23 (July-September 2022).