The Japanese gaming studio has sold Tomb Raider and two other gaming studios in order to shift its focus and invest in blockchain gaming.
On Monday, they closed a deal worth $300 Million with THQ Nordic. Now that the studios have been sold, Tomb Raider, Deus Ex, and Thief | Legacy of Kain are not a part of Square Enix.
Tomb Raider has been one of the most successful games by Square Enix selling a total of more than 35 million copies worldwide. Crystal Dynamics, a child company of Square Enix, rebooted this game by developing Tomb Raider in 2013. It got two reboots; Rise of the Tomb Raider and Shadow of the Tomb Raider.
Eidos Montreal, another child studio of Square Enix, developed Deux Ex Human Evolution and Deux Ex Mankind Divided.
Both these child gaming studios have been sold in the deal along with Square Enix Montreal. The games mentioned above are now gone with the studios.
Embracer Group (THQ Nordic)
The Embracer Group, also known as THQ Nordic, is a Swedish PC, console, and mobile game development and publishing company.
This Monday, they acquired three of Square Enix’s gaming studios naming Crystal Dynamics, Eidos Montreal, and Square Enix Montreal in a $300M deal.
“The acquisition brings a compelling pipeline of new installments from beloved franchises and original IPs, including a new Tomb Raider game”, reads Embracer.
This means that Lara Croft admirers need not worry about the game’s future as it’s in safe hands.
Embracer Group will also be welcoming over 1000 new employees through this acquisition.
Square Enix On This Deal
As they sell off three of their gaming studios, they believe it will be beneficial for the company to allow more cash flow in such times of volatility. (The Pandemic, War, and Inflation)
The studio will now be able to use the money to invest in Blockchain, AI, and the Cloud.
See Also: Square Enix Sees The Future in Play-to-Earn
Yosuke Matsuda, President of Square Enix, stated that the NFT marker is “Overheated” but they are still interested in bringing in-game assets and play-to-earn mechanics in their future projects.
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