The famous publisher Square Enix has also agreed that many of the developers behind these stunning franchises also join Embracer Group.
It seems that this year sees no end for massive deals and shifts within the games industry. We have already had Xbox buy Activision (Whether the deal goes through as of yet is uncertain) PlayStation bought Bungie and now Embracer group have agreed to purchase a huge swathe of Square Enix’s famous IP’s and developers in a stunning move that has left many fans perplexed.
In a statement on Embracer Groups very own website they detailed the number of IP’s and developers that they picked up from Square Enix in this huge deal. Embracer Group gained many incredible companies; Eidos Montreal (Deus Ex) Crystal Dynamics (Tomb Raider) Square Enix Montreal (Mobile games in the worlds of Hitman, Tomb Raider etc) have each joined Embracer group.
Embracer Group stated this on their announcement: “The portfolio of IP consists of iconic franchises appreciated by critics and players alike. For example, two original IPs, Tomb Raider and Deus Ex, have sold AAA units of ~88M and ~12M, respectively”. While this may seem like a lot already, Embracer Group further stated that this deal also includes “more than 50 back-catalogue games”. This means that Embracer group have made a huge leap and acquired for what could be considered ‘cheap’ in the current gaming landscape.
PlayStation purchased Bungie for $3.6 Billion, a successful company it may be, it currently only operates with a singular IP Destiny. In opposition to this Embracer Group have purchased three studios and over 60 unique IP’s and back catalogue games for only $300 Million. That is less than a tenth of what PlayStation spent to purchase one company.
One may be asking the question… Why? Luckily, Square Enix too put out their own statement saying that the transaction “enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.”
The statement further read that Square Enix still own IP’s; Just Cause, Life is Strange and Outriders.
More details about this purchase may be revealed throughout the coming days, so stay tuned with GamesCreed for the latest updates. Here, we cover everything gaming. From the latest news to stellar reviews, GamesCreed has you covered.
