In 2009, Square Enix purchased western studios such as Eidos, publishing new Tomb Raider, Deus Ex and other titles. Lately, Square Enix not impressed with their sales from their western studios. For example, the recent release of Guardians of the Galaxy. Despite positive reviews, the game “undershot our initial expectations” says Square Enix President Yosuke Matsuda. It seemed only a matter of time Square Enix would push-off their western IPs and this morning, it happened. Square Enix sells their western studios and IPs for $300 million USD to Embracer Group. This includes over 50 titles, such as popular franchise Tomb Raider, all three studios, eight global locations that house 1,100 employees. The share transfer expected to complete during July and September, 2022. In the meantime, Square Enix will continue to publish franchises such as Just Cause, Outriders, and Life is Strange.

As to way Square Enix is moving on, investment in blockchain, AI, and the cloud. The company has set their eyes on blockchain since its statement on January 1st, 2022. With Square Enix’s thoughts heading into NFTs and cloud technology, hopefully Embracer Group can embrace their new IPs and give fans what they want.

Source: Embracer Group