Sweden-based Embracer Group has acquired the video games development studios Crystal Dynamics, Eidos-Montreal and Square Enix Montreal for $300 million in cash and debt.
The deal from Embracer, which trades on the NASDAQ Exchange, includes popular games IP for the Tomb Raider, Deus Ex, Thief and Legacy of Kain franchises, and another 50 back catalogue games from Square Enix.
Japan-based Crystal Dynamics, whose games include Rise of the Tomb Raider and Legacy of Kain Defiance, has studios in San Mateo, California, Bellevue, Washington and Austin, Texas. Eidos Montreal has two studios in Quebec and another in Shanghai, China and has releases like Thief 4, Deus Ex Human Revolution and Shadow of the Tomb Raider.
And Square Enix Montreal has studios in Montreal and London, UK. The deal will raise Embracer Group’s profile in North America as its content pipeline grows to over 230 games. Embracer added the acquisitions will boost its production capacity as demand for gaming products grows.
“Through this acquisition, Embracer will augment its development capabilities specifically within the AAA segment, which will provide opportunities to accelerate organic growth,” the company said in a statement.
Embracer with a speciality in PC, console, mobile and board games and other related media has a catalog of over 850-owned franchises and stakes in THQ Nordic, Koch Media, Coffee Stain, Amplifier Game Invest, Saber Interactive, DECA Games, Gearbox Entertainment, Easybrain, Asmodee and Dark Horse.
With its 119 internal game development studios, Embracer has over 12,500 employees and expects its latest transaction to close by September 2022.