Square Enix Sells Marvel’s Avengers Studio & Tomb Raider IP

Square Enix Sells Marvel’s Avengers Studio & Tomb Raider IP

Today, May 2, Square Enix has announced it’s sold some of its major Western studios in a buyout from Embracer Group, including Marvel’s Avengers developer Crystal Dynamics, along with IPs including Tomb Raider. The planned acquisition comes following a number of major studio shake-ups in recent months, including Microsoft’s purchase of Activision Blizzard.
One of the biggest names in gaming, Square Enix has become synonymous with many of its popular IP, not only including Tomb Raider, but also Life is Strange, Outriders, Just Cause, and more. Along with its flagship franchises, Square Enix is also known as the publisher of Marvel’s Avengers, the 2020 blockbuster live service game that’s been marred in controversy since launch. Developed by Crystal Dynamics, the title has kept players interested with the steady release of new Marvel’s Avengers cosmetics and characters, but arguably failed to reach the heights of success expected by both Square Enix and Crystal Dynamics. In 2020 it was reported that initial disappointing sales of Marvel’s Avengers cost Square Enix millions of dollars.
In a press release, Square Enix has confirmed that it has entered into an agreement with Embracer Group for the “acquisition of Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and IP,” with Embracer paying $300 million. According to the official document, the IPs in the deal include a host of game series either owned or worked on by the associated studios, including Deus Ex, Tomb Raider, Thief, and Legacy of Kain. Some Western games, including Life is Strange, Outriders, and Just Cause will continue to be published by Square Enix moving forward. Embracer stated on the acquisition:

“The acquisition brings a compelling pipeline of new installments from beloved franchises and original IPs, including a new Tomb Raider game. The acquisition builds on Embracer’s mission of creating a leading independent global gaming and entertainment ecosystem. Embracer has been particularly impressed by the studios’ rich portfolio of original IP, housing brands with proven global potential such as Tomb Raider and Deus Ex, as well as demonstrating the ability to create AAA games with large and growing fan bases. There are compelling opportunities to organically grow the studios to maximize their commercial opportunities.”

SQUARE ENIX HOLDINGS CO., LTD. enters into an agreement with Embracer Group for the acquisition of Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and IP.
Press Release: https://t.co/ooOYacp4PW pic.twitter.com/2PmQE967gk
— Square Enix (@SquareEnix) May 2, 2022

The large-scale video game acquisition is especially notable as last month it was revealed that a new Tomb Raider game is currently in development. While little is known about the title to date, once the buyout is finalized, it will seemingly be published under the Embracer Group umbrella, as opposed to Square Enix. Embracer Group already has an impressive catalog of games under its name, including franchises like Saints Row, Dead Island, and Borderlands to name just a few.
What exactly the Square Enix and Embracer Group deal means for Square Enix’s many video game brands remains unclear at this stage. Crystal Dynamics’ Marvel’s Avengers has consistently disappointed players since launch, and many are already hoping for improvements to the game once the deal is finalized, though it’s possible Square Enix will retain the license, which could mean an end to the game. Tomb Raider‘s future is equally uncertain, though as the new game is specifically mentioned in the press release, it seems unlikely that the upcoming game will be canceled in light of the acquisition. The deal is expected to be formalized and made official later this year, which will hopefully cast more light on the future of the Square Enix studios and games.
Source: Square Enix, Embracer

#Square #Enix #Sells #Marvels #Avengers #Studio #Tomb #Raider

Square Enix Sells Marvel’s Avengers Studio & Tomb Raider IP

Today, May 2, Square Enix has announced it’s sold some of its major Western studios in a buyout from Embracer Group, including Marvel’s Avengers developer Crystal Dynamics, along with IPs including Tomb Raider. The planned acquisition comes following a number of major studio shake-ups in recent months, including Microsoft’s purchase of Activision Blizzard.
One of the biggest names in gaming, Square Enix has become synonymous with many of its popular IP, not only including Tomb Raider, but also Life is Strange, Outriders, Just Cause, and more. Along with its flagship franchises, Square Enix is also known as the publisher of Marvel’s Avengers, the 2020 blockbuster live service game that’s been marred in controversy since launch. Developed by Crystal Dynamics, the title has kept players interested with the steady release of new Marvel’s Avengers cosmetics and characters, but arguably failed to reach the heights of success expected by both Square Enix and Crystal Dynamics. In 2020 it was reported that initial disappointing sales of Marvel’s Avengers cost Square Enix millions of dollars.
In a press release, Square Enix has confirmed that it has entered into an agreement with Embracer Group for the “acquisition of Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and IP,” with Embracer paying $300 million. According to the official document, the IPs in the deal include a host of game series either owned or worked on by the associated studios, including Deus Ex, Tomb Raider, Thief, and Legacy of Kain. Some Western games, including Life is Strange, Outriders, and Just Cause will continue to be published by Square Enix moving forward. Embracer stated on the acquisition:

“The acquisition brings a compelling pipeline of new installments from beloved franchises and original IPs, including a new Tomb Raider game. The acquisition builds on Embracer’s mission of creating a leading independent global gaming and entertainment ecosystem. Embracer has been particularly impressed by the studios’ rich portfolio of original IP, housing brands with proven global potential such as Tomb Raider and Deus Ex, as well as demonstrating the ability to create AAA games with large and growing fan bases. There are compelling opportunities to organically grow the studios to maximize their commercial opportunities.”

SQUARE ENIX HOLDINGS CO., LTD. enters into an agreement with Embracer Group for the acquisition of Crystal Dynamics, Eidos-Montréal, Square Enix Montréal, and IP.
Press Release: https://t.co/ooOYacp4PW pic.twitter.com/2PmQE967gk
— Square Enix (@SquareEnix) May 2, 2022

The large-scale video game acquisition is especially notable as last month it was revealed that a new Tomb Raider game is currently in development. While little is known about the title to date, once the buyout is finalized, it will seemingly be published under the Embracer Group umbrella, as opposed to Square Enix. Embracer Group already has an impressive catalog of games under its name, including franchises like Saints Row, Dead Island, and Borderlands to name just a few.
What exactly the Square Enix and Embracer Group deal means for Square Enix’s many video game brands remains unclear at this stage. Crystal Dynamics’ Marvel’s Avengers has consistently disappointed players since launch, and many are already hoping for improvements to the game once the deal is finalized, though it’s possible Square Enix will retain the license, which could mean an end to the game. Tomb Raider‘s future is equally uncertain, though as the new game is specifically mentioned in the press release, it seems unlikely that the upcoming game will be canceled in light of the acquisition. The deal is expected to be formalized and made official later this year, which will hopefully cast more light on the future of the Square Enix studios and games.
Source: Square Enix, Embracer

#Square #Enix #Sells #Marvels #Avengers #Studio #Tomb #Raider