Crystal Dynamics

Video game giant Embracer Group — yes, the one trying to buy the company that holds the rights to The Lord of the Rings and The Hobbit — completed its acquisition of several of Square Enix’s western divisions. That includes several Canadian studios, like Square Enix Montreal.

Per an announcement from Embracer, the company acquired Crystal Dynamics, Eidos-Montreal, Square Enix Montreal, as well as several IPs, including Tomb Raider, Deus Ex, Thief, Legacy of Kain, and “more than 50 back-catalog games.” Embracer says the companies will form its 12th operative group and will be headed by Phil Rogers.

We are happy to announce the completion of the acquisition of @CrystalDynamics, @EidosMontreal, & soon to be renamed @SquareEnixMtl! The companies will form the 12th operative group under the leadership of Phil Rogers. A warm welcome to all new colleagues.https://t.co/9t5nHktjEo

— Embracer Group (@embracergroup) August 26, 2022

Embracer has steadily grown its gaming portfolio through various acquisitions over the years. Crystal Dynamics, Eidos-Montreal, and Square Enix Montreal will join Deep Silver (Saints Row), Gearbox (Borderlands), Saber Interactive (Halo: Combat Evolved Anniversary) and Dark Horse Comics (Hellboy).

Moreover, it’ll be interesting to see what, if anything, Embracer does with the new IP. Fans were quick to reply to Embracer’s tweet about the acquisition asking for a new Tomb Raider game. Hopefully, the acquisition works out well for the Canadian studios involved.

Header image credit: Square Enix

Source: Embracer

Square Enix is selling its Montreal-based studios, including Crystal Dynamics, Edios-Montreal and Square Enix Montreal, to Sweden’s Embracer group for $300 million (roughly $386 million CAD).

The deal is expected to close between July and September and affects 1,100 employees across the three studios. This acquisition means that the Embracer group now owns an extensive catalogue of video game series, including Tomb Raider, Deus Ex, Legacy of Kain, Thief and “more than 50 back catalogue games.”

“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, the co-founder and group CEO of Embracer Group, in a recent press release.

Edios Montreal most recently released Guardians of the Galaxy and has also worked on recent entries in the Deus Ex series. On the other hand, Square Enix Montreal has developed several critically acclaimed mobile titles, including Hitman Go, Lara Croft Go, and Deus Ex Go. Finally, Crystal Dynamics is best known for the Tomb Raider series.

Embracer owns Gearbox Software, THQ Nordic, Koch Media, Deeper Silver and more. When the company’s acquisition of Square Enix closes, it will have more than 14,000 employees, 10,000 developers and 124 internal studios.

Square Enix says that selling off these studios will allow the company to establish “a more efficient allocation of resources,” adding that it plans to launch “new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.”

Image credit: Square Enix

Source: Embracer, Square Enix