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The Embracer Group announced today that it has entered into agreements with Square Enix to acquire Crystal Dynamics, Idos-Montreal and Square Enix Montreal. Embracer will also get major IPs from those companies, including Tomb Rider, Deuce X, Thief and Legacy of Cain.
The deal is worth એ 300 million. While that’s a lot of money, it’s significantly less than other recent blockbuster gaming deals. Sony is spending $ 3.6 billion on Bungee.
The big deal, such as Microsoft’s purchase of Bethesda (and later Activision Blizzard), which made them an industry trend, is already in the business of ambassador acquisitions. The Swedish holding company owns other major gaming labels such as Deep Silver, Saber Interactive and THQ Nordic.
For Square Enix, this gives the Japanese publisher a way to offload his largest Western studio. Square Enix has repeatedly denounced the release of Crystal Dynamics and Idos – such as the recent Avengers and Guardians of the Galaxy games – as financial disappointments. The move allows Square Enix to invest heavily in technologies such as blockchain, AI and cloud gaming.
Embracer expects the deal, which involves about 1,100 employees, to close between July and September this year.
Crystal Dynamics is currently helping Microsoft develop its Perfect Dark Reboot. She is also developing a new Tomb Rider game.
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