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Embracer Group buys Crystal Dynamics, Tomb Raider, Deus Ex, Thief IPs for $300M

Tomb Raider

Embracer Group has purchased several studios and IPs from Square Enix. The deal includes Tomb Raider, Deus Ex, and Thief among other franchises.

In what can only be described as a steal, Embracer Group is buying three studios and a bunch of video game IPs from Square Enix for $300 million. The deal includes the development studios Crystal Dynamics, Eidos Montreal, and Square Enix Montreal. It also includes the Tomb Raider, Deus Ex, Thief, and Legacy of Kain video game franchises.

This basically means that Square Enix is selling off its assets from its purchase of Eidos. The Japanese publisher purchased Eidos in 2009 along with legendary franchises like Tomb Raider, Deus Ex, Thief, and Legacy of Kain. The Eidos properties were a pillar of Square Enix’s Western game strategy. Square Enix oversaw a successful Tomb Raider trilogy reboot and a pair of critically acclaimed Deus Ex games.

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“We are thrilled to welcome these studios into the Embracer Group,” says Lars Wingefors, co-founder and CEO of Embracer Group. “We recognize the fantastic IP, world-class creative talent, and track record of excellence that have been demonstrated time and again over the past decades.”

Embracer Group is on a spending spree as of late. Last year, Embracer Group bought Gearbox for $1.3 billion. THQ Nordic, Koch Media, and Saber Interactive are also under the Embracer Group umbrella. The company has a catalog of more than 240 franchises and 7,000+ employees around the world.