Embracer Group to acquire Square Enix’s western studios in $300 million deal

Robert Collins

Shadow of the Tomb Raider Definitive Edition video game on Xbox One

Swedish media holding company Embracer Group has inked a deal with Square Enix to acquire Eidos, Crystal Dynamics and Square Enix Montreal, in addition to other assets.

For those who have never heard of Embracer Group, it was originally established as Nordic Games Licensing in the 1990s and steadily grew throughout the 2000s and 2010s, rebranding itself several times in the process. It has become more prominent in recent years since becoming Embracer Group in September 2019 through a series of notable acquisitions, including Borderlands creator Gearbox Software via Gearbox Entertainment in April 2021, and Dark Horse Media (owner of Dark Horse Comics) in December of that year.

This latest acquisition is arguably the biggest yet for the company. Along with adding the three game development studios – and the more than 1,000 employers working under them – to its holdings for the $300 million price tag, Embracer Group’s portfolio will gain such popular IPs as Tomb Raider, Deus Ex, Thief, Legacy of Kain, and many more.

What does this acquisition mean for fans of these studios and their game creations? It could mean a revival of franchises that have been neglected or abandoned by Square Enix, particularly the aforementioned Legacy of Kain and Deus Ex series. While it is far too early to say what Embracer Group may or may not do with its newly acquired IPs, the fact that these names have already been dropped in the company’s official statement on the purchase is an encouraging sign.