Embracer Group is acquiring Crystal Dynamics and Eidos from Square Enix, as well as Square Enix Montreal – the companies announced this morning.

News that Embracer Group is acquiring Crystal Dynamics and both Montreal studios also includes a host of intellectual properties like Tome Raider, Legacy of Kain, Thief, Deus Ex, and more. The total acquisition price for all three studios and IPs amouns to $300 million in cash on a debt-free basis, paid in full when the transaction is approved and closed between July-September 2022.

Following the acquisiton, Square Enix will be comprised mostly of their internal studios in Japan, as well as their various partners in the Square Enix Collective and Square Enix External Studios. They’ll also continue to publish games from third-party made franchises like Life is Strange, Just Cause, and Outriders.

Square Enix also noted the acquisition will net them capital which they’ll use to launch new business endeavors “by moving forward with investments in fields including blockchain, artificial intelligence, and the cloud.”

”We are thrilled to welcome these studios into the Embracer Group. We recognize the fantastic IP, world class creative talent, and track record of excellence that have been demonstrated time and again over the past decades,” said Embracer Group co-founder and CEO Lars Wingefors. “It has been a great pleasure meeting the leadership teams and discussing future plans for how they can realize their ambitions and become a great part of Embracer.”

Square Enix America and Europe CEO Phil Rogers added, ”Embracer is the best kept secret in gaming: a massive, decentralized collection of entrepreneurs whom we are thrilled to become a part of today. It is the perfect fit for our ambitions: make high-quality games, with great people, sustainably, and grow our existing franchises to their best versions ever. Embracer allows us to forge new partnerships across all media to maximize our franchises’ potential and live our dreams of making extraordinary entertainment.”