Embracer is now officially the owner of Crystal Dynamics, Eidos-Montreal, Square Enix Montreal, and numerous franchises including Deus Ex, Thief, and Tomb Raider.
Square Enix agreed to sell those assets to the Swedish conglomerate in May 2022 for $300 million, and Embracer has announced that the deal has finally been completed.
Curiously, shortly after selling off some of its most high-profile franchises and studios, Square Enix started laying out plans to "cultivate" new franchises and expand its production capabilities by forming new studios and pursuing M&A opportunities.
Embracer, meanwhile, seemingly has big ambitions for the latest members of its ever-expanding video game family. Earlier this year, the company said it will greenlight "remakes, remasters, spinoffs" and transmedia projects based on its new properties.
Prior to that, Embracer CEO lars Wingefors said the deal will allow Embracer's newly-acquired studios to continue their "track record of excellence," while also helping the Swedish company make further headway within the triple-A segment.
Embracer hasn't rested on its laurels since striking that deal with Square Enix. Earlier this month, the company shared details of a recent spending spree that saw it buy the rights to The Lord of the Rings and The Hobbit and purchase a multitude of studios and game companies including Tripwire Interactive and Tuxedo Labs.
Although the prices of those individual deals weren't disclosed, Embracer noted that the combined cost of its splurge was roughly $788 million.