Embracer Group acquires Eidos, Crystal Dynamics, Square Enix Montreal, and several IP

Embracer Group has acquired Square Enix Montreal, Eidos, and Crystal Dymanics and several IP including Tomb Raider for $300 million. The company is set to host a stream about the deal right now.

”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 deal is not just for the studios, but Embracer Group has also acquired a catalogue of 50 games including Tomb Raider, Legacy of Kain, Deus Ex, and Thief.

The acquisition is expected to close as early as July of this year. Embracer Group is taking on debt to finance this deal, but they own so many amazing studios that at this point it is hard to be surprised by the size and scope of their deals. Embracer will be forking over $300 million for this deal, and adds a ton of games and studios to their conglomerate.

A slide from the presentation that shows how Embracer funded and expects to close this deal.

Embracer Group's CEO Lars Wingefors did say that the company will continue its acqusition spree just two weeks ago, and they still have more liquidity to be able to score some more deals.

Wingefors provided a more detailed breakdown of the deal during the press conference:

The total purchase price amounts to $300 million on a cash and debt free basis, to be paid in full at closing
Acquisition includes development studios Crystal Dynamics (HQ: San Mateo, CA, US); Eidos Montreal (Montreal, CA); and Square Enix Montreal (Montreal, CA)
- In total, represents ~1,100 employees across three studios and 8 global locations
Acquisition includes catalogue of iconic IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain, and others
More than 50 back-catalogue games
The transaction is subject to various regulatory and other external approvals and expected to close during the second quarter of Embracer's financial year (July-September 2022

We will be sure to add a link to the press release once Embracer Groups' website stops crashing.