Square Enix this week sold its Crystal Dynamics, Eidos Montreal and Square Enix Montreal studios to Embracer Group for $300 million. The sale also includes rights to Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 games. It sold for $300 million, including all studios and IPs.
Industry analysis David Gibson attributes the fact that these studios and IPs sold for as little as $300 million was attributed to square enix’s two Marvel games. Gibson, who has suffered losses in both games, is talking about a $200 million loss. These two games include Marvel’s Avengers and Marvel’s Guardians of the Galaxy.
Gibson adds: “Square Enix, which released two Marvel games in just under two years, has suffered huge losses. He lost $200 million accordingly. These consecutive losses caused its value to fall. These two games and the wrong strategies are at the heart of the sale of Square Enix’s studios for $300 million. But even if that’s the case, the $300 million figure is really low.”
Strange move, plan to invest more into blockchain etc, they don’t need the money. Too hard to manage overseas projects? https://t.co/BEZNDm6jv2
— David Gibson (@gibbogame) May 2, 2022
