Square Enix Sells Studios to The Embracer Group

Square Enix is set to sell some of their studios to The Embracer Group, a publisher that already has the rights to the likes of THQ Nordic and Gearbox. Although it isn't set in stone yet, if the deal does happen, it will be for $300 million USD.

The studios in question are Crystal Dyncamics, Eidos Montréal, and Square Enix Montréal. For those that may not know, they are the studios behind titles such as Thief, Tomb Raider, and Deus Ex.

As for what is to come for all the series (mentioned above and others), Embracer has mentioned that they are impressed by the studios' rich portfolio of original IPs and mention Deus Ex and Tomb Raider by name. Although the message is a bit vague, it speaks for the hopes they have to further help the studios flourish.

And lastly, for those curious as to why Square Enix has sold the studio, they said the following statement.

The Transaction will assist the Company in adapting to the changes underway in the global business environment by establishing a more efficient allocation of resources, which will enhance corporate value by accelerating growth in the Company’s core businesses in the digital entertainment domain. In addition, the Transaction enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.