Embracer Group covered another major part of the gaming industry this morning with the news of its deal with Square Enix.
If all goes according to plan, the $300 million deal will see the majority of Square Enix’s western developers go to the Swedish team. This includes three developers namely Crystal Dynamics, Eidos Montreal and Square Enix Montreal. The teams have prepared the latest tomb Raider and god out games, and Embracer will acquire the rights to these franchises, as well as about 50 other franchises along with the studios.
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In a statement this morning, Square Enix said the money from the deal will allow them to enter new businesses moving forward, naming blockchain and the cloud as technologies they want to explore. The company also reassured viewers that it has not fully exited Western development, mentioning just a reason, Outridersand Life is Strange as games, they will continue to feed after the deal is completed.
Today, we entered into an agreement to hire over 1,000 new employees through the acquisition of @CrystalDynamics, @EidosMontrealand @SquareEnixMtl with a fantastic directory of IPs like Tomb Raider and Deux Ex to be part of our ecosystem.https://t.co/NqELDQKTGe
— Embracergroup (@embracergroup) May 2, 2022
One of the opponents of the acquisition is Marvel, since both Avengers Marvel and recent guardians of the galaxy the game was not discussed by either side. When asked about games live presentation Embracer CEO Lars Wingefors suggested this morning that Disney will have to look into the deal and approve the developer’s new owners before Marvel games can join the company on their own. Considering performance Avengers Marvelin particular, this new situation could jeopardize the future of this game’s online service offerings.
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Neither Embracer nor Square Enix have released a full list of franchises that will be transferred as part of the deal, but Embracer has mentioned a few titles. Except tomb Raider and god out, Thief and Cain’s Legacy were specifically mentioned in their presentation. The company has a long history of HD remakes of old games they acquire, so it wouldn’t be surprising if any of these names show up on new compilations in the coming years.