After Selling Multiple Studios, Square Enix Wants to Build New Ones, and Acquire More – IGN
Square Enix is looking to build and acquire new studios despite selling several off last week.
Part of the publisher’s medium-term business strategy, as revealed in its latest financial earnings report, is to “boost game development capabilities by establishing new studios, mergers and acquisitions, etc.”
Square Enix sold Crystal Dynamics, Eidos-Montréal, and Square Enix Montréal to Embracer Group for $300 million last week in a deal which included several IPs including Tomb Raider, Deus Ex, Thief, and more.
Though it seems unusual that Square Enix would shed a number of studios and IPs and immediately pursue others, it defines a goal in its report as “reshaping [its] digital entertainment portfolio”.
It’s under this objective that Square Enix plans to establish and acquire more studios, alongside the more general desire to “cultivate robust IP (including [the] creation of new IP)”.
Purchasing game developers outright has certainly been a popular strategy in the video game industry as of late, with Microsoft leading an acquisitions race headlined by its colossal $68.7 billion purchase of Activision Blizzard.