Square Enix is ​​selling Tomb Raider, Deus Ex, Lara Craft Go along with their studios

That Embracer Group has incorporated a variety of new studios. The buying spree holding company has agreed to acquire three of Square Enix’s western studios along with their franchises and back catalogues. This is Tomb Raiders crystal dynamicsDevelopers of Guardians of the Galaxy (and Deus Ex). Eidos Montrealand Square Enix Montreal (Hitman Go, Lara Croft Go).

The two publishers announced the $300 million cash transaction this morning, confirming the deal includes over 50 IPs. The acquisition adds approximately 1,100 new employees to Embracer across the three studios’ eight global locations.

“The IP portfolio consists of iconic franchises that are loved by critics and gamers alike. For example, two original IPs, Tomb Raider and Deus Ex, have sold AAA units of ~88 million and ~12 million, respectively,” Embracer said in a press release.

“Embracer sees an opportunity to invest in these franchises as well as the additional IPs acquired such as Legacy of Kain, Thief and other original franchises. The acquisition also includes the continued sale and operation of the studios’ more than 50 back catalogs of games.”

In a separate press release [PDF]Square Enix confirmed that its western arm will continue to publish Just Cause, Outriders and Life is Strange. The Square Enix Collective will also continue alongside its External Studios brands.

Marvel’s Avengers, the Crystal Dynamics still supportswasn’t mentioned in today’s announcement, so it’s likely to remain in Square Enix’s ownership — at least for as long as the licensing deal with Disney lasts.

We know that Crystal Dynamics is working on a new Tomb Raider in Unreal Engine 5 and is helping Microsoft’s The Initiative develop the Perfect Dark reboot. After the mediocre start of Guardians of the Galaxy, it’s not clear what Eidos Montreal’s next project will be.

Square Enix has long had a tumultuous relationship with its western studios. Although many of their games sell reasonably well by industry standards, the publisher routinely views them as a financial disappointment. This was true for Tomb Raider, Deus Ex, Marvel’s Avengers and more recently Guardians of the Galaxy.

This will at least ensure that the Japanese publisher doesn’t complain about its underperforming western games in its score reports, although there’s still Just Cause, Outriders and Life is Strange to fill that gap.