Embracer Group have embraced Crystal Dynamics, other Square studios

Started by the-pi-guy, May 02, 2022, 09:37 AM

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the-pi-guy

Embracer Group enters into an agreement to acquire Eidos, Crystal Dynamics, and Square Enix Montréal amongst other assets - Embracer

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Embracer Group AB ("Embracer") has entered into an agreement to acquire the development studios Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and a catalogue of IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 back-catalogue games from SQUARE ENIX HOLDINGS CO., LTD. ("Square Enix Holdings"). In total, the acquisition includes ~1,100 employees across three studios and eight global locations. The total purchase price amounts to USD 300 million on a cash and debt free basis, to be paid in full at closing. Embracer has secured additional long-term debt funding commitments for this and other transactions in the pipeline. The company today reiterates its current Operational EBIT forecast for FY 21/22, FY 22/23, and FY 23/24. The transaction is subject to various regulatory and other external approvals and is expected to close during the second quarter of Embracer's financial year 22/23 (July-September 2022).

the-pi-guy

They get Tomb Raider, Deus Ex and others for a small $300 million.

the-pi-guy

Crazy how in 7 years, they went from MS paying $100 million for a year of exclusivity, to being sold outright for only $300 million.

BananaKing

Stupid square. This company is managed horribly

At least this means MS wont buy these guys now.

kitler53

wow SE, bad move.  

Stupid square. This company is managed horribly

At least this means MS wont buy these guys now.
you mean until MS squires embracer....


Featured Artist: Vanessa Hudgens

kitler53

will how close sony is to SE these days i'm surprised sony didn't buy them.


fudge. 300 million for 3 studios and the tomb raider IP.   that's a fudgy steal of a deal.     clearly SE didn't shop this around because i'm certain MS would have payed more than that.


Featured Artist: Vanessa Hudgens

the-pi-guy


kitler53

profitable margin is still profitable margin.  

i'm not surprised they sold i'm surprised they undervalued it sooo much.  the price would make sense if they were bleeding money but they weren't.  300 million could have make enough sense if it was just the studios but it included the tomb raider IP and back catalog.   the tomb raider IP alone should have fetched at least 300 million.


Featured Artist: Vanessa Hudgens

the-pi-guy



I wonder if Embracer would attempt to make a Game Pass competitor.

SWORDF1SH

So Sony didn't go for this? Maybe it's a sign they have other studios lined up and taking this deal would take them over budget. Seems like a really good deal to turn down.

the-pi-guy

So Sony didn't go for this? Maybe it's a sign they have other studios lined up and taking this deal would take them over budget. Seems like a really good deal to turn down.


???


BananaKing

Jeff grub doesn't know shame. He alluded a big Sony aquisition was happening and....... nothing.

Now he is acting like he knew about this all along. No, he didn't, or he would have said so back when he was talking about the "sony" acquisition.


Legend

Hopefully this means Tomb Raider and Deus Ex have a strong future.



I wonder if Embracer would attempt to make a Game Pass competitor.
I don't understand Embracer group. Where is all this money coming from? They're like a Swedish Tencent that just appeared one day and started buying everyone.



???


lol I'd describe this new square as the opposite of streamlined. What the heck would Sony want with all their random smaller games? Crystal Dynamics and Eidos-Montréal feel like half of Square Enix from a Sony buyout point of view.

kitler53

yeah, that's a full of shame tweet.   no way sony was interested in buying SE if and only if they got rid of some a key studio and valuable IP....


Featured Artist: Vanessa Hudgens

the-pi-guy

Jeff grub doesn't know shame. He alluded a big Sony aquisition was happening and....... nothing.
No he didn't.
He flat out said he heard some rumors, but they weren't credible for him to care about.

Greg delayed his show, because he wanted to report on the PS+ news, and anything else that happened that week.

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Now he is acting like he knew about this all along. No, he didn't, or he would have said so back when he was talking about the "sony" acquisition.
He's not acting like he knew anything.
He even flat out says here that he doesn't know anything:

He's just commenting that Square might be selling off less desirable parts of their business.

lol I'd describe this new square as the opposite of streamlined. What the heck would Sony want with all their random smaller games? Crystal Dynamics and Eidos-Montréal feel like half of Square Enix from a Sony buyout point of view.
I would largely disagree.

Final Fantasy, Kingdom Hearts are each a much bigger deal than Tomb Raider.

Uncharted and Tomb Raider are fairly similar, and Sony already has the bigger franchise of the two.

Eidos-Montreal/Deus Ex wasn't super successful.  Guardians of the Galaxy was the most notable thing they had done, but it was severely damaged due to Avenger's game.



This was despite Eidos launching Guardians of the Galaxy last year.