Square Enix has sold its three major western development studios, Crystal Dynamics, Square Enix Montréal, and Eidos-Montréal, to Swedish video-game holding company Embracer Group for $300 million. The studios will join the likes of Gearbox, Saber Interactive, and THQ Nordic. This follows underperformance over the years, particularly with Marvel’s Guardians Of The Galaxy.
Included in the deal are a number of IPs, such as Tomb Raider, Deus Ex, Legacy of Kain, Thief, and fifty further back-catalogue titles. The acquisition will also include the 1,100 employees of the three studios. What is not part of the deal are games Square Enix publishes from external studios, such as Life is Strange, Outriders, and Just Cause.
The sale is expected to go through by September this year.
