Square Enix sells "Tomb Raider" and "Deus Ex" studios
Embracer Group acquires studios Crystal Dynamics, Eidos Montreal and Square Enix Montreal along with over 50 game brands.
The big game sell-off continues. In January, Sony snatched up "Destiny" developer Bungie for 3.6 billion US dollars. For significantly less, namely 300 million US dollars, Crystal Dynamics, Eidos Montreal and Square Enix Montreal are now being owned by the Embracer Group. The Swedish company has been acquiring numerous small and medium-sized studios for years. The last big purchase a year ago involved seven studios, including 3D Realms ("Duke Nukem") and Ghost Ship Games ("Deep Rock Galactic").
The current acquisition involves no less valuable brands. Through the deal, which is to be finalized in the course of the year, the Japanese developer and publisher Square Enix is parting with the trademark rights for "Tomb Raider", "Deus Ex" and "Thief", among others. The sale does not come as a complete surprise. Square Enix had shown itself disappointed several times in the past, about the sales figures of their western studios. The universally praised "Tomb Raider" reboot from 2013, for example, fell short of expectations despite selling 3.4 million copies in the first month.
Eidos and Crystal Dynamics passed into Square Enix ownership in 2009. Now, according to a media release, the studios apparently no longer fit into the portfolio. Square Enix wants to put resources into new business areas in the future. These include blockchain, AI and the cloud.
Being the game and gadget geek that I am, working at digitec and Galaxus makes me feel like a kid in a candy shop – but it does take its toll on my wallet. I enjoy tinkering with my PC in Tim Taylor fashion and talking about games on my podcast http://www.onemorelevel.ch. To satisfy my need for speed, I get on my full suspension mountain bike and set out to find some nice trails. My thirst for culture is quenched by deep conversations over a couple of cold ones at the mostly frustrating games of FC Winterthur.