Square Enix has sold off its western studios and over 50 intellectual properties to Embracer Group for just $300m.
The sale, which is set to go through by September this year, means Embracer owns Crystal Dynamics, Eidos Montreal and Square Enix Montreal, as well as IPs including Tomb Raider, Deus Ex, Thief and Legacy of Kain. That amounts to around 1100 employees.
As already announced, a new Tomb Raider is in development at Crystal Dynamics, built on Unreal Engine 5. Thoughts now turn to other games potentially in development at these just-bought studios.