Embracer Group buys Square Enix Montréal, Eidos, and Crystal Dynamics. Deal value is $300 million

Swedish holding company Embracer will gain control over intellectual properties such as Tomb Raider, Deus Ex, Thief, Legacy of Kain, and more than 50 back-catalog games from Square Enix Holdings.

The acquisition is expected to close in the second quarter of Embracer Group’s 2023 financial year, between July and September 2022. 

Embracer Group noted in a press release that the $300 million deal advances the company’s mission to build a leading independent global gaming and entertainment ecosystem, following years of acquisitions of Deep Silver and its parent company Koch Media, as well as a number of studios and IPs, and a rebrand from its former parent name THQ Nordic. The company also recently acquired Gearbox, developers of the Borderlands series, 4A Games, developers of the Metro series, and “workhorses” Saber Interactive.

Nothing was said in Embracer Group’s press release about rebranding Square Enix West, although details may emerge during the presentation dedicated to the transaction.