bottom line: It looks like Square Enix is ​​selling off its Western studios after seeing a lot of value in the franchises its Japanese studios created. As part of the $300 million deal, Embracer Group will add three Square Enix studios to a roster that now includes more than 120 developers big and small.

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Today Embracer Group announced it acquired three Square Enix development studios in a $300 million deal. While this may seem small compared to recent deals such as Microsoft $68.7 billion Acquisition of Activision Blizzard or Sony $3.6 billion buying Bungie, it’s still a significant change in the landscape of the gaming industry.

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The agreement will allow Embracer to take over Square Enix Montréal, Eidos Montréal and Crystal Dynamics. Square Enix Montréal is known for mobile games such as Deus Ex Go, Hitman Go and Lara Croft Go. Eidos Montréal was responsible for the development of Marvel’s Guardians of the Galaxy, which was well received by gamers and reviewers but fell short of Square Enix’s expectations in terms of sales. Crystal Dynamics recently stated that it is working on the next Tomb Raider game using Epic technologies. Unreal Engine 5.

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Along with these three studios, Embracer will have access to valuable intellectual property such as Deus Ex, Thief, Tomb Raider, Legacy of Kain and more than 50 games from the back catalog. Phil Rogers, CEO of Square Enix America and Europe, said in a press statement that “Embracer is the best-kept secret in gaming: a huge, decentralized group of entrepreneurs that we’re excited to be a part of today.”

The Embracer Group was born from the original Nordic Games, which became THQ Nordic AB after acquiring what was left of troubled American game publisher THQ. The Swedish video game and media holding group also owns other well-known developers such as Deep Silver. Transmission, Koch Mediaand Saber Interactive.

Moving forward, Square Enix He speaks the remaining studios will continue to work on franchises such as Just Cause, Life is Strange and Outriders.