Embracer Group Absorbs Square Enix’s Western Studios & IP

Embracer Group has acquired intellectual property and three Western videogame studios from Japanese game developer Square Enix.

“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,” Embracer CEO Lars Wingefors said in a statement.

The two groups reached an agreement on Monday, but the $300 million deal won’t be made official until later this year, likely sometime between July and September.

The deal encompasses intellectual property to upwards of 50 back-catalog games, including the popular  Tomb Raider, Deus Ex and Legacy Kain franchises. It also includes studios Crystal Dynamics, Eidos Montreal and Square Enix Montreal and their staffs, which totals around 1,100 employees.