Square Enix is taking their business elsewhere, and its latest games that it developed are handed off to another company called Embracer Group. The development studios, rights, and intellectual properties to games like the "Marvel's Avengers," "Marvel's Guardians of the Galaxy," "Tomb Raider," "Deus Ex," and more are no longer with the company.
Square Enix Sells Several Games to the Embrace Group for $300 M
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EL SEGUNDO, CA - AUGUST 27: General Views of Square Enix on August 27, 2020 in El Segundo, California.
There will be a change in Square Enix's company, as it will no longer have rights and its development studios that have stakes to several titles on its list. Recent developments from the company are seeing a goodbye from them, with it heading over to its new home with the Embracer Group.
According to Embracer, the company sold its development studios and intellectual properties for only $300 million, with an extensive deal to the Swedish video game developer.
Square also confirmed this sale via its Twitter post and press release for everyone.
The deal means that Crystal Dynamics, Eidos Montreal, and Square Enix Montreal are heading to Embracer. Intellectual properties to these titles are also going to Embracer.
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Today we have entered into agreement to welcome over 1000 new colleagues through the acquisition of @CrystalDynamics, @EidosMontreal, and @SquareEnixMtl with a fantastic catalog of IPs such as Tomb Raider and Deux Ex, to be part of our ecosystem.https://t.co/NqELDQKTGe
— Embracer Group (@embracergroup) May 2, 2022
Square Sells Marvel Games and Other Franchises
Embracer accepts the deal with both arms open to welcome the new studios and IPs coming to them.
Square's deal with them also offers the titles including "Marvel's Avengers," "Marvels' Guardians of the Galaxy," "Thief," "Tomb Raider," "Legacy of Kain," and other titles from the company.
"Deus Ex" also joins the game list coming over to Embracer.
However, there are no announcements from Embracer regarding this deal or any plans for the titles that are currently in development from its specific gaming companies.
Remembering the Games from Square Enix
It has been a ride for Square Enix, and with its latest game titles, it developed, produced, and published alongside different developers in the industry. Square took over the project of creating the famous "Marvel's Avengers" for the PS4 alongside Crystal Dynamics, and it recently became available via the Xbox console's platform.
It also had stakes in the upcoming game from the famous comic book company Eidos Montreal's "Marvel's Guardians of the Galaxy," which did not yet see its release anniversary from the company. Square is already departing from its control on the game and the intellectual property it owns for the titles it previously had stakes to, even with "Tomb Raider."
It may be an end of an era for Square Enix, but it does not mean that the games are already ceasing to exist or stopping their development from bringing new content and updates for its offers. Other titles on Square Enix's list remain with the company, with franchises like the "Kingdom Hearts," "Final Fantasy," and more titles from its list.
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Written by Isaiah Richard
