In yet another massive acquisition, Square Enix has sold a majority of its Western IPs and studios to Embracer Group for the rather paltry sum of $300 million.
As part of the latest act of consolidation in the video game industry, the massive holding group now owns Crystal Dynamics, Eidos Montreal, and Square Enix Montreal, as well as the handful of best-selling IPs that the said studios were and are working on such as Tomb Raider and more.
The price of the deal alone is worthy of making headlines.
Back in September, Microsoft reportedly paid $100 million for exclusive rights to the Tomb Raider Survivor Trilogy. Not to mention, Crystal Dynamics just confirmed that it's working on the next Tomb Raider game. You'd think that Embracer Group would have paid $300 million just for Tomb Raider, but it's getting multiple studios as a result.