That last one will be getting a name change
The ink has dried on Embracer Group’s purchase of three former Square Enix studios. Crystal Dynamics, Eidos Montreal, and Square Enix Montreal are all now part of the Embracer Group.
Embracer’s acquisition was announced in May earlier this year, for areported sumof around $300 million USD. Today, Embracer Groupconfirmsthat all conditions for the transaction, including regulatory approvals, have been fulfilled.
This purchase doesn’t just include the three studios, but several notable IPs that these studios have worked on. Those includeTomb Raider,Deus Ex,Thief, andThe Legacy of Kain. However,Square Enix is still set to retaincertain IPs.
In a post from the Crystal Dynamicssocial media accounttoday, it’s confirmed that Square Enix Montreal will be renamed soon. More info is expected at a later date.
It’s official! Crystal Dynamics,@EidosMontreal& the soon-to-be-renamed @SquareEnixMtl are now part of the global Embracer Group family!
We continue to develop ground-breaking entertainment with beloved and original IPs & can’t wait to show what we’ve been working on.pic.twitter.com/qTkGvf4zTL
— Crystal Dynamics (@CrystalDynamics)Jun 21, 2025
A new group under Embracer
With all three studios under new ownership, it will be interesting to see what their future development plans are. Crystal Dynamicshad announcedit was working on the nextTomb Raidergame, building it using Unreal Engine 5. Eidos Montreal is hot offGuardians of the Galaxy, a game thatreally took me by surprise. I’m personally hopingTomb Raiderhasn’t been affected too much by the change in ownership.
This locks in a pretty big acquisition for Embracer, though the group hasn’t been shy about picking up more purchases in the interim. Last week, Embracerannounced a bevyof new acquisitions. They range from Tripwire and Limited Run Games toLord of the RingsIP holder Middle-earth Enterprises. Alongside Gearbox, Aspyr, and more, that’s a lot of studios under the Embracer label these days.
In other acquisition news, theSony-Bungie dealclosed last month. And Microsoft, meanwhile, isworking towards finalizingits purchase of Activision Blizzard.
