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Embracer Group now owns Crystal Dynamics, Eidos Montréal, Tomb Raider, and more

Tomb Raider

Embracer Group has completed its acquisition of three studios from Square Enix along with a number of major IPs including Tomb Raider and Deus Ex.

It’s official. Square Enix has officially sold off Crystal Dynamics, Eidos Montréal, Square Enix Montréal. The sale also includes major IPs like Tomb Raider, Deus Ex, Thief, Legacy of Kain, and more than 50 back-catalog games.

“All conditions for the transaction, including regulatory approvals, have now been fulfilled and the transaction may be completed. Embracer has, therefore, today completed the acquisition,” the company said in a statement.

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The $300 million deal was announced back on May 2, 2022. It remains a shockingly low price for some of the biggest names in gaming. One could imagine that Tomb Raider alone is worth that given its huge back catalog of games and the successful trilogy reboot.

Last month, a former Eidos Montreal exec described Square Enix’s takeover as a ‘train wreck in slow motion.’ So the sale is probably a long time coming even if Embracer Group got a bargain. The company has gone on an acquisition spree lately. Just last year, Embracer Group bought Borderlands developer Gearbox for $1.3 billion.