The famous publisher Square Enix has also agreed that many of the developers behind these stunning franchises will also join Embracer Group.
It seems that this year sees no end to massive deals and shifts within the games industry. We have already had Xbox buy Activision (the fate of the deal as of yet is uncertain), PlayStation buy Bungie, and now the Embracer group has agreed to purchase a huge swathe of Square Enix’s famous IPs and developers in a stunning move that has left many fans perplexed.
In a statement on Embracer Group’s website, they detailed the number of IPs and developers that they picked up from Square Enix in this huge deal. Embracer Group gained many incredible companies; Eidos Montreal (Deus Ex), Crystal Dynamics (Tomb Raider), and Square Enix Montreal (Mobile games in the worlds of Hitman, Tomb Raider, etc.) have each joined the Embracer group.
Embracer Group stated this on their announcement: “The portfolio of IP consists of iconic franchises appreciated by critics and players alike. For example, two original IPs, Tomb Raider and Deus Ex, have sold AAA units of ~88M and ~12M, respectively”. While this may seem like a lot already, Embracer Group further stated that this deal also includes “more than 50 back-catalogue games”. This means that the Embracer group has made a huge leap and acquired for what could be considered ‘cheap’ in the current gaming landscape.
PlayStation purchased Bungie for $3.6 billion. While a successful company it may be, it currently only operates with a singular IP, Destiny. In opposition to this, Embracer Group purchased three studios, over 60 unique IPs, and back catalogue games for only $300 million. That is less than a tenth of what PlayStation spent to purchase one company.
One may ask the question… Why? Luckily, Square Enix, too, released a statement saying that the transaction “enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.” The statement further read that Square Enix still owns IPs: Just Cause, Life is Strange, and Outriders.
More details about this purchase may be revealed throughout the coming days, so stay tuned with GamesCreed for the latest updates. Here, we cover everything gaming. From the latest news to stellar reviews, GamesCreed has you covered.
