Square Enix has long had a rough time with its Western arm of studios and in publishing, and now the Japanese gaming giant has sold off three of its main Western studios along with all of their IP, which includes the likes of Crystal Dynamics and the Tomb Raider franchise, Eidos Montreal and the Deus Ex franchise as well as Square Enix Montreal who's been handling the Hitman series.

The recipient business of the mega transaction is The Embracer Group who itself looks to be expanding its gaming business foothold, with CEO Lars Wingefors stating that the company was "thrilled to welcome these studios into the Embracer Group". Adding that Embracer [recognises] "the fantastic IP, world class creative talent, and track record of excellence that have been demonstrated time and again over the past decades. It has been a great pleasure meeting the leadership teams and discussing future plans for how they can realise their ambitions and become a great part of Embracer".

Transparency around the deal has seen a USD$300 million cash purchase underpinning the seismic transaction that absolutely sees The Embracer Group triumphant at that price and for what it gets, which is more than 50 IP and some stellar studios.

The acquisition builds on Embracer’s mission of creating a leading independent global gaming and entertainment ecosystem...

Read part of The Embracer Group's press release, putting to bed any immediate concerns about the future of the studios and some of its AAA titles. Specifically the newest Tomb Raider which is still in development.

We saw a similar situation when what is now known as THQ Nordic (formerly Nordic Games GmbH) took over key THQ studios and franchises, all of which have thrived under their new banner and business. Leaving us optimistic for the future of some of these gaming mainstays.

Check the links above for more, and stay tuned as more information becomes available in the wake of this major studio and franchise acquisition.