Embracer Group to Acquire Eidos, Crystal Dynamics, and Square Enix Montreal

Tomb Raider

During Embracer Group press conference, Embracer Group today announced that its has entered into an agreement to acquire the development studios Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and a catalogue of IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 back-catalogue games from SQUARE ENIX HOLDINGS CO., LTD. (“Square Enix Holdings”).

The group further announced that the total purchase price amounts to USD 300 million on a cash and debt free basis, to be paid in full at closing. The transaction is likely to close between July-September 2022.


With the acquisition of the two AAA game studios, Embracer is expanding its reach globally. As a media company, Embracer already has more than a dozen studios and eight locations around the world. With the acquisition of Eidos, Crystal Dynamics and Square Enix Montreal, Embracer has a world-class creative team and a diverse portfolio of AAA games.

The acquisitions will give Embracer Group access to the game industry’s most popular AAA franchises, including the Deus Ex series and the Tomb Raider reboots. In total, Embracer will acquire more than fifty back catalogue games from the two game companies.

The transaction will close during the second quarter of the 2022/2023 financial year. This is a good way for Embracer to increase its global footprint. In addition to the three studios that make up Eidos, the deal will also include the company’s headquarters in Montreal. The deal will include a catalogue of over 50 franchises, including the popular Tomb Raider series.

Embracer Group Acquisitions So Far:

  • $2.89b – Asmodee
  • $1.30b – Gearbox
  • $640m – Easybrain
  • $525m – Saber Interactive
  • $450m – Aspyr
  • $300m – Crystal Dynamics/Eidos
  • $149m – Koch Media
  • $137m – Flying Wild Hog
  • $125m – Perfect World
  • $47.3m – Milestone
  • $45.0m – Warhorse Studios
  • $45.0m – 4A Games (Source)

The acquisition is expected to close during the second quarter of the company’s 2022-2023 fiscal year. The deal will be made in cash.

According to the agreement, more than 1,000 people will be transferred from Square Enix to Embracer Group. Additionally, the deal will create a strong base for developing new games.

Square Enix has previously released games such as The Legend of Zelda, Outriders, and Tomb Raider. In addition, Embracer has signed an agreement with the Square Enix Montreal studios to invest $300 million in AI and the cloud.


Rizwan Ahmad
Rizwan Ahmad

Rizwan is an avid mobile geek and a gaming lover. He loves to keep a tab on new tech and loves to share the latest tech news and reviews on Smartphones, Gadgets, Apps, and more.


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