Swedish media buyers-uppers Embracer Group have completed their $300 million (£253 million) acquisition of former Square Enix studios, begun in May this year. The deal sees Crystal Dynamics, Eidol Montréal and Square Enix Montréal become part of a 12th operating group within Embracer. Square Enix Montreal will now change their name.
Embracer’s deal with Square Enix was revealed to the world on May 2nd, and also included intellectual property ranging from Tomb Raider and Deus Ex to Thief. The Swedish supergroup now own more than 50 “back-catalog” games that used to belong to Square Enix Holdings. You can read the full deets of the deal’s closure announced by Embracer today here.
It’s becoming increasingly difficult to find something that Embracer Group hasn’t acquired yet. The company bought the rights to the entirety of JRR Tolkein’s Middle-Earth last week, which just sounds totally out there. At the same time, Embracer began the acquisition of seven more companies within the games industry, including Tripwire Interactive, Tuxedo Labs, Singtrix, Limited Run Games, arcade specialists Tatsujin, Bitwave Studios, and accessories maker Gioteck.
In total, those deals cost them SEK 6 billion (£480 million) upfront and potentially another SEK 2.2 billion (£175 million) in deferred costs. Embracer have also acquired Perfect World Entertainment, Lost Boys Interactive and Beamdog just this year. They already own 3D Realms and Gearbox, Aspyr, THQ Nordic and Saber Interactive.
Well, that’s some more solid business news for today. The consolidation of the games industry is actually moving ahead after all. Your suggestions for what Square Enix Montréal should be called in the comments, please.