Square Enix sells off Tomb Raider, Deus Ex IP and more for $300 million

The Japanese publisher and developer has sold 4 IPs, 3 renowned studios and rights to more than 50 games to the Embracer Group for $300 million.

May 3, 2022
by Dragan
Square Enix sells off Tomb Raider, Deus Ex IP and more for $300 million
News

The Final Fantasy developer and publisher Square Enix has decided to offload some of its well-known intellectual properties and studios for $300 million in an effort to further finance its developments in cloud, AI and blockchain technologies.

Sold to the continuously growing Embracer Group are the rights to more than 50 games, as well as the following IPs: Tomb Raider, Deus Ex, Thief and Legacy of Kain. Alongside these reputable franchises, the publisher’s renowned studios, Crystal Dynamics, Eidos-Montréal and Square Enix Montréal have also been bought out by the Swedish holding company. The three game developer studios together have a total of around 1100 employees. A part of the statement from Embracer Group states that the “acquisition brings a compelling pipeline of new installments from beloved franchises and original IPs, including a new Tomb Raider game.”

This selloff follows upon Square Enix CEO’s comments in the past couple of months showing increasing interest in blockchain gaming, with this latest move now clearly displaying how serious the Japanese conglomerate’s intentions are in this new field. Some of the remaining IPs they still have under their belt include the flagship Final Fantasy franchise, Kingdom Hearts, Just Cause, Dragon Quest and Life is Strange.

Formerly known as THQ Nordic and Nordic Games before that, the Embracer Group continues its investment spree, having acquired numerous developers such as Borderlands studio Gearbox Software, Duke Nukem developer 3D Realms, critically-acclaimed studio of the Metro franchise 4A Games and more.

The acquisition will likely be completed during Embracer’s Q2 financial year, which is July-September of this year.

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
We have sent you an email, please confirm!


News Filter
Play Games Now
Galaxy Fight Club
Galaxy Fight Club
illuvium
illuvium
Gods Unchained
Gods Unchained