In may, it was announced that the Embracer Group had entered into an agreement to acquire Crystal Dynamics, Eidos Montreal, and Square Enix Montreal from Square Enix in a deal worth $300 million. Embracer Group has now announced that the acquisition deal has been formally completed.
In addition to the three studios, the company now also owns a number of major former Square Enix intellectual properties, including the likes of Deus Ex, Tomb Raider, Legacy of Kain, and Thief, along with over 50 back-catalog titles.
The new acquisitions will operate under a new publishing label formed by Embracer, which will be the company’s 12th operating group, led by Phil Rogers, CEO of Square Enix Europe and North America. The name of the operating group hasn’t yet been unveiled. Recently, it announced and established Freemode as its 11th operating group.
As for what we can expect from these newly-acquired studios in the future, that remains to be seen. Crystal Dynamics has started development on the next Tomb Raider game, and is also co-developing Perfect Dark alongside Microsoft’s The Initiative, while work on Marvel’s Avengers also continues. Meanwhile, Eidos Montreal is reportedly developing a new IP.
Embracer Group has previously also said that Eidos Montreal and Crystal Dynamics will both be working on “very sizable AAA experiences” based on “beloved franchises as well as original IPs”. The company has also said that in addition to new instalments, it’ll also look into developing remakes, remasters, and spinoffs based on its newly acquired IPs.
Embracer Group’s spree of acquisitions, meanwhile, has continued in recent weeks, with the company having acquired the likes of Limited Run Games, Tripwire Interactive, and more, in addition to the IP rights for The Lord of the Rings and The Hobbit.