Square Enix Selling Crystal Dynamics and Eidos

In a post on their website today, Square Enix has announced that they are selling their western studios, Crystal Dynamics and Eidos including IPs such as Tomb Raider, Deus Ex, and Legacy of Kain, to Embracer Group. Square Enix will still continue to publish some games from their western studios such as Just Cause, Outriders, and Life is Strange. According to their share transfer agreement, the deal will help Square Enix with "investments in fields including blockchain, AI, and the cloud." You can read the entire document here.

Embracer Group is not a new company as it has been around since the 90s, originally as Nordic Games and then as THQ Nordic AB in 2016 before finally becoming Embracer Group in 2019. Aside from Crystal Dynamics and Eidos, Embracer Group also owns Amplifier Game Invest, Asmodee, Coffee Stain Holding, Dark Horse Media, DECA Games, Easybrain, Gearbox Entertainment, Koch Media, Saber Interactive, and THQ Nordic.