Video game development studios Crystal Dynamics, Eidos, and Square Enix Montreal have been acquired by Embracer Group for $300 million in cash and debt.
The deal adds a catalog of video game IPs — including the Tomb Raider, Legacy of Kain, and Thief franchises — to Embracer Group’s already long list. Embracer will continue sales and operations of more than 50 of the studios’ back-catalog games.
- Embracer’s portfolio will include more than 230 games and a catalog of more than 850-owned franchises.
- It currently has 119 internal game development studios and stakes in other companies including Amplifier Game Invest, Dark Horse, and DECA Games.
The acquisition, which will add roughly 1,100 employees and eight global locations to Embracer, is expected to close in the company’s fiscal second quarter of 2022. Embracer claims the U.S. will be its No. 1 country by number of game developers upon deal close.
Embracing Additions
Over the past couple of years, Embracer Group has made its fair share of headlines for acquisitions.
Last February 2021, Embracer announced plans to buy AAA studio Gearbox for $1.3 billion and Easybrain for $640 million. In November 2020, the company announced the purchase of 12 smaller game studios and a PR firm in a single day.
In the quarter ending December 2021, Embracer reported a 135% increase in net sales to roughly $513.6 million.
