Embracer Group has, today, announced it has entered into an agreement that will see it acquire various Square Enix properties.
The acquisition equates to around $300 million and will see Embracer acquire some 1,110 employees and around 50 different IPs.
The IPs include; Tomb Raider, Deus Ex, Thief, Legacy of Kain, and more beyond.
Of the various studios, Embracer will also acquire; Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal.
On the acquisition, Co-founder of Embracer Group and Group CEO, Lars Wingefors stated;
“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”.
Meanwhile, Square Enix America and Europe CEO, Phil Rogers, had the following to say;
“Embracer is the best kept secret in gaming; a massive, decentralized collection of entrepreneurs whom we are thrilled to become a part of today. It is the perfect fit for our ambitions; make high-quality games, with great people, sustainably, and grow our existing franchises to their best versions ever. Embracer allows us to forge new partnerships across all media to maximize our franchises’ potential and live our dreams of making extraordinary entertainment”.
Following this acquisition, Embracer group will have “more than 14,000 employees, 10,000 engaged game developers, and 124 internal studios”. Embracer’s content output currently includes “more than 230 games” of which “more than 30 [will be] AAA games”. This new intake will only bolster Embracer’s dominance in the market.
Square Enix proper will keep Just Cause, Life is Strange, and Outriders properties.
The truly worrying (or, completely expected outcome, depending on how well you know Square Enix as a business) is how Square will use these funds going forward.
The company has already laid out its intentions in a press release. Square believes that the transaction will “assist [Square] in adapting to the changes underway in the global business environment”. It believes this will enable Square to succeed by “establishing a more efficient allocation of resources”. Chiefly, Square is looking to invest more prominently in blockchain, AI, and the cloud. Surprise surprise.
It will be interesting, at least, to see what Embracer does with the likes of Tomb Raider, Deus Ex, and, perhaps most temptingly, Legacy of Kain.
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