Embracer Group has announced that it has bought three western studios from Square Enix, including Crystal Dynamics, Eidos-Montreal, and Square Enix Montreal for $300 million.
Between the three studios, they have produced popular games and IPs such as Tomb Raider and Deus Ex. According to a statement from Square Enix, part of the reason for selling the studios was to “enable the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.”
Additionally, Square Enix’s game development will now consist mostly of its studios in Japan, External Studios, and the Square Enix Collective. However, Square Enix will also continue to publish franchises like Just Cause, Outriders, and Life is Strange.
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“Embracer believes there will be an increasingly strong demand for high-quality content, including AAA single-player games, over the decade,” Embracer says in a statement. “We aim to continue working with leading platforms and license holders and to form deeper strategic relationships with a handful of leading companies in the industry.”
Source: Square Enix official Twitter
George Yang is a freelance writer specializing in video games and pop culture. He has written for sites like IGN, GameSpot, Kotaku, The Verge, NPR, and Complex. You can follow him on Twitter @yinyangfooey.