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Embracer Group (the forthcoming publisher) has entered into an agreement to acquire gaming development studios Crystal Dynamics (Tomb Raider: Legend-), Eidos-Montréal (Shadow of the Tomb Raider), and Square Enix Montréal (Lara Croft GO) from Square Enix Holdings.

While Crystal Dynamics is currently working on the next Tomb Raider title (that will be built on Unreal Engine 5), this deal (naturally) will affect the future of the Tomb Raider, Deus Ex, Thief, Legacy of Kain franchises and more than 50 back-catalogue games.

The total purchase price is USD 300 million and also more than 1,000 employees from eight studio locations. The acquisition is expected to close in Embracer Group's second quarter (which is from July to September 2022).

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. You can read the full press release here.

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