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.
Embracer's website is currently crashing under intense refreshing, but the stream is set to start at 3:00 AM here in Canton, Ohio. We will be uploading the Embracer Group acquisition press conference VOD to our Shacknews YouTube channel. 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 deal 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.
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.
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