In a year with more billion-dollar acquisitions than usual, Embracer Group made headlines for one of the cheapest buyouts in recent memory.
Earlier this year, Embracer Group confirmed its bargain-priced purchase of multiple Square Enix studios with the deal closing in August.
In a single swoop, Embracer Group became the owners of best-selling franchises such as Tomb Raider, Thief, Deus, and Legacy of Kain. But, while the acquisition wasn’t too long ago, Embracer Group didn’t take too long to close one of the Square Enix studios it acquired.
According to Bloomberg, Embracer Group has closed down Square Enix Montréal.
Square Enix Montreal recently renamed itself to Onoma to prepare for the buyout, but it was all for naught. After working on mobile games such as Hitman Go, Lara Croft Go, and Deus Ex Go, the studio will cease to exist effective immediately. The same report claims that the move was done as part of the company’s intensified focus on “PC and console.
It’s believed that Embracer Group will move the displaced employees to Eidos-Montréal, but it is unclear if this applies to all of them or only some.
Embracer Group, a massive holdings company, has its hands on pretty much everything. Previous reports suggest that it’s working out a deal with Disney for a Marvel game. At the moment, one of its studios is already developing the PS5-exclusive remake of Star Wars: Knights of the Old Republic.
However, unconfirmed reports suggest that Embracer Group is reassigning the game to another studio after Aspyr Media confirmed that the Star Wars game is on indefinite hold.
Curiously enough, there’s not been much controversy surrounding the “sudden” shutdown. It appears that Embracer Group handled the termination well.
