{"id":12264,"date":"2022-05-02T16:44:52","date_gmt":"2022-05-02T07:44:52","guid":{"rendered":"https:\/\/automaton-media.com\/en\/?p=12264"},"modified":"2022-05-02T17:01:01","modified_gmt":"2022-05-02T08:01:01","slug":"20220502-12264","status":"publish","type":"post","link":"https:\/\/automaton-media.com\/en\/news\/20220502-12264\/","title":{"rendered":"Square Enix to sell Crystal Dynamics &#038; Eidos in a $300 million deal with Embracer"},"content":{"rendered":"\n<p><em>Written by. Ryuki Ishii based on the <a href=\"https:\/\/automaton-media.com\/articles\/newsjp\/20220502-201177\/\" target=\"_blank\" rel=\"noreferrer noopener\">original Japanese article<\/a> (original article&#8217;s publication date: 2022-05-02 16:02 JST)<\/em><\/p>\n\n\n\n<p><br>Square Enix and Embracer Group have <a href=\"https:\/\/www.hd.square-enix.com\/eng\/news\/pdf\/20220502%20A_Press%20Release_fin.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">announced<\/a> that they\u2019ve signed a share transfer agreement involving Square Enix\u2019s subsidiaries (Crystal Dynamics, Eidos Interactive, Square Enix Montr\u00e9al), multiple IPs, including <em>Tomb Raider<\/em>, <em>Deus Ex<\/em>, <em>Thief<\/em>, and <em>Legacy of Kain<\/em>, and over 50 of Square Enix\u2019s back-catalog games. Square Enix will continue to hold IPs such as<em> Just Cause<\/em>, <em>Outriders<\/em>, and <em>Life is Strange<\/em>.<\/p>\n\n\n\n<p>The total purchase price amounts to $300 million on a cash and debt-free basis, <a href=\"https:\/\/news.cision.com\/embracer-group-ab\/r\/embracer-group-enters-into-an-agreement-to-acquire-eidos--crystal-dynamics--and-square-enix-montreal,c3557701\" target=\"_blank\" rel=\"noreferrer noopener\">according to Embracer<\/a>. The Embracer Group explains that \u201cthe acquisition includes ~1,100 employees across three studios and eight global locations,\u201d and the transaction is expected to be completed during July-September 2022.<\/p>\n\n\n\n<p>The group has been on a buying spree for a while now, including the recent $1.3 billion deal to acquire The Gearbox Entertainment Company.  \u201cIn total, post pending closings, Embracer will have more than 14,000 employees, 10,000 engaged game developers, and 124 internal studios. Embracer\u2019s upcoming content pipeline includes more than 230 games with more than 30 AAA games.\u201d<br><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Today we have entered into agreement to welcome over 1000 new colleagues through the acquisition of <a href=\"https:\/\/twitter.com\/CrystalDynamics?ref_src=twsrc%5Etfw\">@CrystalDynamics<\/a>, <a href=\"https:\/\/twitter.com\/EidosMontreal?ref_src=twsrc%5Etfw\">@EidosMontreal<\/a>, and @SquareEnixMtl with a fantastic catalog of IPs such as Tomb Raider and Deux Ex, to be part of our ecosystem.<a href=\"https:\/\/t.co\/NqELDQKTGe\">https:\/\/t.co\/NqELDQKTGe<\/a><\/p>&mdash; Embracer Group (@embracergroup) <a href=\"https:\/\/twitter.com\/embracergroup\/status\/1521018187973857281?ref_src=twsrc%5Etfw\">May 2, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Eidos Interactive is mainly known for the <em>Deus Ex<\/em> and <em>Thief<\/em> series, and Crystal Dynamics is a subsidiary of Eidos that has been working on the <em>Tomb Raider<\/em> series as of late. Square Enix acquired these companies in 2009, but they\u2019re now letting go of them 13 years later. Both <em>Deus Ex<\/em> and<em> Thief<\/em> have been dormant since the mid-2010s, and Eidos no longer has the <em>Hitman<\/em> developer IO Interactive with them, so you could say that the IP lineup and usage are a bit weaker compared to how it was back when Square Enix bought them.<\/p>\n\n\n\n<p>It\u2019s been a while since Eidos or Crystal Dynamics made a successful title, at least by the publisher\u2019s standard, as Square Enix previously stated that both <em>Marvel&#8217;s Guardians of the Galaxy<\/em> and <em>Marvel\u2019s Avengers<\/em> didn\u2019t meet the company\u2019s expectations. Their poor performance might have been a part of the reason why Square Enix decided to let them go.<\/p>\n\n\n\n<p>Here\u2019s what Square Enix says about the purpose of the transaction:<\/p>\n\n\n\n<p class=\"has-background\" style=\"background-color:#fdfbfb\">The Transaction will assist the Company in adapting to the changes underway in the global business environment by establishing a more efficient allocation of resources, which will enhance corporate value by accelerating growth in the Company\u2019s core businesses in the digital entertainment domain.<br><br>In addition, the Transaction enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud. The move is based on the policy of business structure optimization that the Company set forth under the medium-term business strategy unveiled on May 13, 2021.<br><br>The Transaction will also provide an opportunity to better align our overseas publishing function with our organization in Tokyo, revisit the current governance structure and associated reporting lines, and advance integrated group management with the goal of maximizing the worldwide revenue generated from future titles launched by the group\u2019s studios in Japan and abroad.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">A new chapter in our story begins as we announce a plan to join the <a href=\"https:\/\/twitter.com\/embracergroup?ref_src=twsrc%5Etfw\">@embracergroup<\/a> family. Read the press release for details: <a href=\"https:\/\/t.co\/wQNTycPHYQ\">https:\/\/t.co\/wQNTycPHYQ<\/a> <a href=\"https:\/\/t.co\/MHbwBsV6vF\">pic.twitter.com\/MHbwBsV6vF<\/a><\/p>&mdash; Crystal Dynamics (@CrystalDynamics) <a href=\"https:\/\/twitter.com\/CrystalDynamics\/status\/1521015450334687232?ref_src=twsrc%5Etfw\">May 2, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">We\u2019re excited to see Crystal Dynamics take these next steps with their studio. Our teams have made great progress in building Perfect Dark together as co-development partners, and we will be continuing this work with them in their next chapter. <a href=\"https:\/\/t.co\/9gG2VGUV8u\">https:\/\/t.co\/9gG2VGUV8u<\/a><\/p>&mdash; TheInitiative (@TheInitiative) <a href=\"https:\/\/twitter.com\/TheInitiative\/status\/1521022638927187970?ref_src=twsrc%5Etfw\">May 2, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Square Enix to sell Crystal Dynamics &#038; Eidos, along with Tomb Raider, Deus Ex, Thief, and Legacy of Kain IPs in a $300 million deal with Embracer Group.<\/p>\n","protected":false},"author":3,"featured_media":12266,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_gspb_post_css":"","footnotes":""},"categories":[3],"tags":[17],"class_list":["post-12264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-japan-related-news"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Square Enix to sell Crystal Dynamics &amp; 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