Square Enix Sold its Western Studios
2022 continues to be a year of huge reshuffles for the gaming industry; as it has just become known that Square Enix has sold its western studios, as well as various of its well-known IPs to Embracer.
Going into detail, the colossal Swedish company acquired Crystal Dynamics Eidos-Montréal and Square Enix Montréal; which are based in the United States and Canada respectively, as well as Tomb Raider , Deus Ex , Thief and Legacy of Kain IPs, along with the rights to more than 50 older releases of these series. These teams employ about 1,100 developers in eight different locations.
For these three studios, as well as their legendary IPs, such as Tomb Raider; Square Enix will receive $ 300 million from Embracer.
It is worth noting that Square Enix has retained several other IPs that will continue to grow in the West; such as Just Cause, Outriders and Life is Strange. At the same time, as it emphasizes in its official announcement; the income of this transaction will allow it to start new business activities, in areas such as blockchain, AI and cloud.
Finally, it is worth noting that the development of Perfect Dark of Xbox Game Studios in collaboration with Crystal Dynamics; will not be affected by the acquisition, as announced by The Initiative. for more gaming news, click here!