Embracer To Buy Eidos, Crystal Dynamics, Square Enix Game Studio Amongst Others

Game company Embracer Group has announced plans to acquire Crystal Dynamics, Eidos-Montréal and Square Enix Montréal for what seems like a bargain $300 million prices.

Embracer Group made in a press release said that the deal includes a "catalogue of IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 back-catalog games from Square Enix Holding Co., Ltd."

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).

The game company said that the acquisition includes ~1,100 employees across eight global locations and three studios.

The total purchase price amounts to USD 300 million on a cash and debt-free basis, to be paid in full at closing.

Embracer is expected to have 14,000 employees, 10,000 game developers, and 124 internal studios when the deal is finalised.

"This acquisition will bring additional scale to Embracer’s current AAA segment, and Embracer will have one of the largest pipelines of PC/Console games content across the industry, across all genres," it said.

Today we have entered into agreement to welcome over 1000 new colleagues through the acquisition of @CrystalDynamics, @EidosMontreal, and @SquareEnixMtl with a fantastic catalog of IPs such as Tomb Raider and Deux Ex, to be part of our ecosystem.https://t.co/NqELDQKTGe

— Embracer Group (@embracergroup) May 2, 2022

Embracer will hold a webcast presentation for investors, analysts, and media on May 2, 2022, at CET 09.00. Please find details in a separate invitation that will follow this release.

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

”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,” stated Phil Rogers, Square Enix America, and Europe CEO.