The sale, which is set to go through by September this year, means Embracer owns Crystal Dynamics, Eidos Montreal and Square Enix Montreal, as well as IPs including Tomb Raider, Deus Ex, Thief and Legacy of Kain.
Square Enix has sold off its western studios and over 50 intellectual properties to Embracer Group for just $300m.
According to Ahmad, Square Enix had looked to sell the western studios for “a while”.
As already announced, a new Tomb Raider is in development at Crystal Dynamics, built on Unreal Engine 5.