Tomb Raider

Embracer Group finalizes acquisition of Crystal Dynamics, Eidos Montreal, and Square Enix Montreal

That last one will be getting a name change

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The ink has dried on Embracer Group’s purchase of three former Square Enix studios. Crystal Dynamics, Eidos Montreal, and Square Enix Montreal are all now part of the Embracer Group.

Embracer’s acquisition was announced in May earlier this year, for a reported sum of around $300 million USD. Today, Embracer Group confirms that all conditions for the transaction, including regulatory approvals, have been fulfilled.

This purchase doesn’t just include the three studios, but several notable IPs that these studios have worked on. Those includeĀ Tomb Raider,Ā Deus Ex,Ā Thief, andĀ The Legacy of Kain. However, Square Enix is still set to retain certain IPs.

In a post from the Crystal Dynamics social media account today, it’s confirmed that Square Enix Montreal will be renamed soon. More info is expected at a later date.

A new group under Embracer

With all three studios under new ownership, it will be interesting to see what their future development plans are. Crystal Dynamics had announced it was working on the nextĀ Tomb RaiderĀ game, building it using Unreal Engine 5. Eidos Montreal is hot off Guardians of the Galaxy, a game that really took me by surprise. I’m personally hoping Tomb RaiderĀ hasn’t been affected too much by the change in ownership.

This locks in a pretty big acquisition for Embracer, though the group hasn’t been shy about picking up more purchases in the interim. Last week, Embracer announced a bevy of new acquisitions. They range from Tripwire and Limited Run Games toĀ Lord of the RingsĀ IP holder Middle-earth Enterprises. Alongside Gearbox, Aspyr, and more, that’s a lot of studios under the Embracer label these days.

In other acquisition news, the Sony-Bungie deal closed last month. And Microsoft, meanwhile, is working towards finalizing its purchase of Activision Blizzard.


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Eric Van Allen
Senior Editor - While Eric's been writing about games since 2014, he's been playing them for a lot longer. Usually found grinding RPG battles, digging into an indie gem, or hanging out around the Limsa Aethryte.