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Square Enix has agreed to sell three studios – Crystal Dynamics, Square Enix Montréal, and Eidos-Montréal – to the Embracer Group.

The sale also includes IP associated with those studios such as the Tomb Raider, Deus Ex, Thief, and Legacy of Kain franchises.

For context, Embracer Group is a Swedish video game holding company that already owns Gearbox, Koch Media, THQ Nordic, and many other studios.

In press statement announcing the deal, Square Enix says:

The Transaction will assist the Company in adapting to the changes underway in the global business environment by establishing a more efficient allocation of resources, which will enhance corporate value by accelerating growth in the Company’s core businesses in the digital entertainment domain. In addition, the Transaction enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.

To be honest, that doesn’t sound quite as much fun as a new Tomb Raider game.

The sale is expected to go through this summer. You can read more via the official press release.

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