{"id":124854,"date":"2022-05-03T09:00:54","date_gmt":"2022-05-03T07:00:54","guid":{"rendered":"https:\/\/mygaming.co.za\/news\/?p=124854"},"modified":"2022-05-03T09:00:54","modified_gmt":"2022-05-03T07:00:54","slug":"square-enix-sells-entire-western-game-studio-division-to-embracer-group","status":"publish","type":"post","link":"https:\/\/mygaming.co.za\/news\/business\/124854-square-enix-sells-entire-western-game-studio-division-to-embracer-group","title":{"rendered":"Square Enix sells entire Western game studio division to Embracer Group"},"content":{"rendered":"<p>Square Enix has announced that it will be selling all of its Western game studios and their associated intellectual property (IP) to the Embracer Group for $300 million.<\/p>\n<p>Some of the studios included in the sale are Crystal Dynamics, Eidos Montreal, and Square Enix Montreal, while the IPs include Deus Ex, Tomb Raider, and Thief.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">SQUARE ENIX HOLDINGS CO., LTD. enters into an agreement with Embracer Group to acquire Crystal Dynamics, Eidos-Montr\u00e9al, Square Enix Montr\u00e9al, and IP.<\/p>\n<p>Press Release: <a href=\"https:\/\/t.co\/ooOYacp4PW\">https:\/\/t.co\/ooOYacp4PW<\/a> <a href=\"https:\/\/t.co\/2PmQE967gk\">pic.twitter.com\/2PmQE967gk<\/a><\/p>\n<p>\u2014 Square Enix (@SquareEnix) <a href=\"https:\/\/twitter.com\/SquareEnix\/status\/1521023402449903622?ref_src=twsrc%5Etfw\">May 2, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the <strong><a href=\"https:\/\/www.hd.square-enix.com\/eng\/news\/pdf\/20220502%20A_Press%20Release_fin.pdf?utm_source=twitter_squareenix&amp;utm_campaign=mobile_none-other_SQEXSOCIAL\">Share Transfer Agreement<\/a><\/strong> set forward by Square Enix, the purpose of the sale is to &#8220;enhance corporate value by accelerating in the digital entertainment domain,&#8221; which includes &#8220;the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.&#8221;<\/p>\n<p>The focus on blockchain-based technologies is not a surprising development, as it has been an ongoing trend for companies to invest in the metaverse, like Epic Games and LEGO&#8217;s <strong><a href=\"https:\/\/mygaming.co.za\/news\/business\/124599-lego-and-epic-games-to-partner-on-child-safe-metaverse-project\" target=\"_blank\" rel=\"noopener\">partnership to build a child-safe metaverse project<\/a><\/strong>.<\/p>\n<p>Embracer is already a behemoth in the game publishing industry, as it owns 119 studios, including THQ Nordic, Deep Silver, and the recently acquired Gearbox Entertainment.<\/p>\n<p>After the Square Enix acquisition is finalised in September, Embracer will have more than 124 internal studios and over 14,000 employees, 1,100 of which will have come from Square Enix&#8217;s Western studios.<\/p>\n<p>Square Enix has also confirmed that its external studios will continue to publish franchises such as Just Cause, Outriders, and Life is Strange.<\/p>\n<p>Crystal Dynamics&#8217; development of the new Tomb Raider title in Unreal Engine 5 is still going ahead, and Embracer Group co-founder and CEO Lars Wingefors has acknowledged the studio&#8217;s &#8220;unique ability to deliver blockbuster hits decade after decade.&#8221;<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/mygaming.co.za\/news\/entertainment\/124502-playstation-confirms-more-acquisitions-in-the-near-future\">PlayStation confirms more acquisitions in the near future<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Embracer Group will acquire Square Enix&#8217;s entire western game studio division, including the Tomb Raider and Deus Ex intellectual properties.<\/p>\n","protected":false},"author":249,"featured_media":124857,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[2],"tags":[5070,213,2779,26096,211],"class_list":["post-124854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-acquisition","tag-crystal-dynamics","tag-eidos-montreal","tag-embracer-group","tag-square-enix"],"_links":{"self":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts\/124854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/users\/249"}],"replies":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/comments?post=124854"}],"version-history":[{"count":0,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts\/124854\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/media\/124857"}],"wp:attachment":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/media?parent=124854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/categories?post=124854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/tags?post=124854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}