Embracer Group Buys Eidos from Square Enix for USD 300M

Sweden-based publisher Embracer Group has acquired Eidos from Square Enix. More specifically, it has agreed to buy Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal. The three studios were known as part of Square Enix’s collection of overseas studios and worked on series associated with the former Eidos Interactive brand. By the standards of recent major acquisitions in the game industry, the asking price was low: D 300 million [Thanks, Cision].

Formerly known as THQ Nordic, Embracer Group is one of the gaming industry’s biggest holding companies. In recent years, it’s grown its umbrella even more through several acquisition sprees. In 2021, it picked up Borderlands and Godfall developer/publisher Marvel’s Guardians of the Galaxy games, respectively. The announcement makes no mention of whether the Marvel-branded titles will continue under Embracer or Square Enix.

For its part, Square Enix stated in 2022 New Year’s Letter. Though the acquisition of Eidos by Embracer Group represents a spinoff of Square Enix’s largest “western” studios, Square Enix will continue publication of overseas-developed franchises like Just Cause, Outriders, and Life is Strange.