Microsoft is gone! Embracer Group buys Square Enix’s Western Studios

(Updated August 26, 2022 Embracer Group confirmed today that Square Enix’s Western studios were officially purchased. The Swedish company now has ownership of Tomb Raider, Deus Ex, Thief All the franchises owned by the Japanese publisher were also available.

(Original Story: May 2, 2022 It’s not even 9 a.m. on Monday morning May 1st and large acquisitions are already slowing down. Embracer Group is the gaming giant that has been steadily growing and owns THQ Nord among others. It decided to begin the week by buying $300 million worth Square Enix studios.

Yep, so, if the deal goes through — which it’s expected to between July and September 2023 — then Square Enix will hand over Crystal Dynamics, Eidos, and Square Enix Montreal to Swedish company Embracer group.

This is also a significant development in IP. Embracer Group and their respective developers will jointly own the rights for Tomb Raider, Deus Ex, Thief and other series. Square Enix will stop publishing or funding games based on these franchises once the deal is finalized.

Other implications could also arise for Xbox. Microsoft has recently signed an agreement with Crystal Dynamics in order to include the studio into its Perfect Dark project. Crystal Dynamics, the Tomb Raider game developer, is currently leading the Perfect Dark reboot in partnership to Xbox’s The Initiative. It appears that things are moving as planned for the moment.

What do YOU think about the latest acquisition news from Xbox? Are these studios worth the investment by Xbox? Tell us below.