Embracer Group has agreed to acquire a number of major studios and franchises, including Tomb Raider, Deus Ex, Thief and Legacy of Cain from Square Enix for $ 300 million.
The acquisition includes development studios such as Crystal Dynamics, Eidos-Montreal and Square Enix Montreal, which brings approximately 1,100 employees to Embracer.
The deal will allow Embracer to hand over $ 300 million without cash and no debt, and this amount will be paid in full when the deal is completed.
Embracer explained that it has secured additional long-term commitments to finance this deal and others that are in preparation. The deal is expected to close in the second quarter of the current fiscal year.
Embracer has grown rapidly in recent years, with the Swedish gaming and media company buying major developers and publishers, including Gearbox, THQ Nordic, Saber Interactive, Coffee Stain Studios and Koch Media.
Lars Wingefors, the company’s chief executive, said the deal would allow its newly acquired studios to “realize their ambitions” and continue “their excellence achievements”. We also hope that the purchase will increase Embraer’s development opportunities in the Triple-A segment and provide opportunities to accelerate organic growth.
In a separate press release, Square Enix said the move would allow it to start new businesses by “moving forward with investments in areas including blockchain, AI and the cloud.”
“The transaction will also provide an opportunity to better coordinate our publishing function abroad with our organization in Tokyo, review the current governance structure and related reporting lines and advance the group’s integrated governance to maximize global revenue. generated by future titles released by the band’s studios in Japan and abroad, “the press release continued.
“In the future, the company’s development function will include its studios in Japan, Square Enix External Studios and Square Enix Collective. The company’s overseas studios will continue to publish franchises such as Just Cause, Outriders and Life is Strange.
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