Embracer Group enters agreement to acquire Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal

Embracer Group is set to acquire Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal for $300 million, the company announced in a press release.

The acquisition includes approximatly 1,100 employees across three studios and eight global locations, as well as a catalog of IPs, such as Tomb Raider, Deus Ex, Thief, Legacy of Kain and more. Embracer Group expects the deal to close during the second quarter of its financial year 22/23, which covers July through September 2022.

“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,” Lars Wingefors, Co-founder and Group CEO of Embracer Group, said. “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.”

“Embracer is the best kept secret in gaming: a massive, decentralized collection of entrepreneurs whom we are thrilled to become a part of today,” Phil Rogers, Square Enix America and Europe CEO, added. “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.”

Square Enix said in its own press release that this sale “enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.”

Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal will join Gearbox Entertainment, THQ Nordic, Saber Interactive, Koch Media, and more in the Embracer Group.

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