Embracer Group has entered into an agreement to acquire Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal for $300 million. The deal is expected to close by September 2022, pending approvals. Embracer Group will gain access to over 50 back-catalog games and over 1,100 employees from the acquisition.
“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,” says 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,” says Phil Rogers, Square Enix America and Europe CEO.
The purchase follows an announcement by Embracer Group to spend billions on more studio acquisitions. Its total staff is expected to grow to over 14,000 employees, and North America will become the number one location for the majority of its developers.