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Square Enix puts Tomb Raider, its studio and much more up for sale in favor of new blockchain projects

Just 1 title that might see a new owner soon. (Source: Sqaure Enix)
Just 1 title that might see a new owner soon. (Source: Sqaure Enix)
Embracer Group has confirmed that it plans to acquire the IP of a plethora of games, Tomb Raider and Deus Ex included, not to mention the relevant studios, in a deal worth US$300 million to Square Enix. These proceeds are slated to become sunk into the latter's new-found enthusiasm for areas such as "blockchain, AI, and the cloud".

The Swedish conglomerate Embracer Group (formerly THQ Nordic AB) touts itself as taking an increasingly eponymous role in the production and distribution of gaming assets. It has already engulfed Dark Horse, Easybrain and Asmodee, and is thus associated with franchises including Saints Row, Borderlands, Darksiders, and Goat Simulator. Now, it has turned similar attention on titles classically linked to Square Enix.

The Group has confirmed reports of its agreement to acquire the IP for games that include legacy titles such as Legacy of Kain, Deus Ex and Thief in addition to Crystal DynamicsTomb Raider. They are to be off-loaded along with 50 more "back-catalog" games, thought to include the oft-benighted Marvel Studios IP.

On that note, their studios' (Square Enix Montréal and Eidos-Montréal included) staff members may also have a change of employer soon. None of this is final at present, however, although Embracer Group has already revealed that it will hand about US$300 million over to the seller should the deal go though.

Square Enix' publicly-stated plans for all of that money has led to speculation that it has offloaded all those titles in order to pivot into new NFT- and metaverse-related projects instead - which, in the face of subsequent news, just might end up backfiring on the company (not financial advice).

Those projected eventualities are not set in stone as yet. However, it is more certain that Embracer Group intends to "maximize" the "commercial opportunities" to be had from its potential new bumper crop of acquisitions.

Disclaimer: The information reported here should not be used as a basis for any personal investment decision. Notebookcheck does not offer cryptocurrency, NFT, or other trading, investment, or financial advice.

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Deirdre O'Donnell
Deirdre O'Donnell - Senior Tech Writer - 5228 articles published on Notebookcheck since 2018
I became a professional writer and editor shortly after graduation. My degrees are in biomedical sciences; however, they led to some experience in the biotech area, which convinced me of its potential to revolutionize our health, environment and lives in general. This developed into an all-consuming interest in more aspects of tech over time: I can never write enough on the latest electronics, gadgets and innovations. My other interests include imaging, astronomy, and streaming all the things. Oh, and coffee.
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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2022 05 > Square Enix puts Tomb Raider, its studio and much more up for sale in favor of new blockchain projects
Deirdre O'Donnell, 2022-05- 7 (Update: 2022-05- 7)