Skip to main content

Embracer Group set to acquire Crystal Dynamics, Eidos-Montreal, and more for $300 million

Embracer Group has announced its latest acquisition and it's another big one. Making a deal with Square Enix for $300 million, this sees them set to acquire Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal.

Sharing the news in a press release, this acquisition also includes IP rights to several big franchises, including Tomb Raider, Deus Ex, Thief, Legacy of Kain, and "more than 50 back-catalogue games from Square Enix Holdings." It's a surprisingly low amount given what's on offer here, though Square Enix has often expressed disappointment at sales for Western games. 

Embracer confirms this deal affects 1,100 employees and that, if it passes, will be expected to close between July to September this year. Speaking further, Lars Wingefors, co-founder and group CEO, stated ”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.” 

Releasing its own statement, Square Enix revealed this transaction "enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud."

See more

It's unknown what these remaining 50 games are, though Embracer confirmed this deal includes the "next mainline Tomb Raider game." Announced during Epic’s recent State of Unreal event, Crystal Dynamics revealed it utilises Unreal Engine 5. Back in April, Tomb Raider franchise general manager Dallas Dickinson the new engine “translates into next-level storytelling and gameplay experiences.”

Otherwise, Square Enix confirmed this won't affect other overseas studios, stating that "Going forward, the Company’s development function will comprise its studios in Japan, Square Enix External Studios, and Square Enix Collective." So, it'll continue publishing Just Cause, Outriders, and Life is Strange.

Who is the Embracer Group?

We've all seen Microsoft and Sony's acquisition war in recent years, seeing big names like Bethesda and Bungie move into these respective teams. But the Sweden-based Embracer Group's been making several major acquisitions of its own, prominently acquiring Borderlands developer Gearbox Entertainment last year. 

That's increased in the last few years and right now, the company has several other big names under their belt: THQ Nordic, Koch Media/Deep Silver, Coffee Stain AB, Amplifier Game Invest, Saber Interactive, 3D Realms, Aspyr Media, and so many more. In total, there's over 100 internal studios within Embracer.

We can expect some big projects across the next few years from Embracer too. Alongside big hitters like the Saints Row reboot and Star Wars: Knights of the Old Republic Remake, Deep Silver confirmed its plans to reform Free Radical Design last May, announcing a new TimeSplitters game is in development. 



Source: TechRadar

Popular posts from this blog

FCC approves broadband 'nutrition labels' to help you shop for internet

The FCC is pushing nutrition labels for internet providers. What you need to know The FCC has voted to move forward with new rules for ISPs to display nutrition labels. The proposed rulemaking would mandate ISPs to display relevant speed and pricing information to consumers. This should make it easier for consumers to make an informed decision on their broadband. The FCC voted unanimously on a plan that would allow consumers to make better decisions about their broadband internet. The proposal will require internet service providers (ISPs) - including many of the best wireless carriers in the U.S. — to display "nutrition labels" that display relevant service information for consumers at point-of-sale. This includes internet speeds, allowances, and clear information on rates. "If you walk into any grocery store and pull boxes of cereal from the shelves, you can easily compare calories and carbohydrates," FCC Chair Jessica Rosenworcel said in a statemen

Yandex spins out self-driving car unit from its Uber JV, invests $150M into newco

Self-driving cars are still many years away from becoming a ubiquitous reality, but today one of the bigger efforts to build and develop them is taking a significant step out as part of its strategy to be at the forefront for when they do. Yandex — the publicly-traded Russian tech giant that started as a search engine but has expanded into a number of other, related areas (similar to US counterpart Google) — today announced that it is spinning out its self-driving car unit from MLU BV — a ride-hailing and food delivery joint venture it operates in partnership with Uber. The move comes amid reports that Yandex and Uber were eyeing up an IPO for MLU  last year. At the time, the JV was estimated to be valued at around $7.7 billion. It’s not clear how those plans will have been impacted in recent months, with COVID-19 putting huge pressure on ride-hailing and food-delivery businesses globally, and IPOs generally down compared to a year ago. In that context, spinning out the unit could

Slack’s new integration deal with AWS could also be about tweaking Microsoft

Slack and Amazon announced a big integration late yesterday afternoon. As part of the deal, Slack will use Amazon Chime for its call feature, while reiterating its commitment to use AWS as its preferred cloud provider to run its infrastructure. At the same time, AWS has agreed to use Slack for internal communications. Make no mistake, this is a big deal as the SaaS communications tool increases its ties with AWS, but this agreement could also be about slighting Microsoft and its rival Teams product by making a deal with a cloud rival. In the past Slack CEO Stewart Butterfield has had choice words for Microsoft saying the Redmond technology giant sees his company as an “existential threat.” Whether that’s true or not — Teams is but one piece of a huge technology company — it’s impossible not to look at the deal in this context. Aligning more deeply with AWS sends a message to Microsoft, whose Azure infrastructure services compete with AWS. Butterfield didn’t say that of course

Xbox One S vs. Xbox One X: Which should you buy?

http://bit.ly/2v1agl5 We live and breathe tech, and also gaming, with every member of Windows Central rocking either an Xbox One console or PC gaming rig. We've compared and contrasted every iteration of Xbox One to bring you this guide. Xbox One X Raw 4K power From $299 at Amazon Pros Has thousands of games 4K media apps, Blu-ray discs, and games IR blaster for TV controls, Amazon Echo for voice controls Improved HDD speeds for faster loading times Cons More expensive at around $500 RRP Requires a 4K TV to get the most out of it The Xbox One X is the world's most powerful games console, running the latest games with the crispest, detailed visuals on TV sets with 4K HDR support. Xbox One S More affordable From $226 at Amazon Pros Has thousands of games 4K media apps and Blu-ray IR blaster for TV controls, Amazon Echo for voice controls More affordable at around $300 RRP Cons No 4K games Games run worse, even on a 1080p TV The Xbox One S i