Embracer closes one of the Square Enix studios it bought this year

- Advertisement -

Swedish holding company The Embracer Group has closed one of the three studios it acquired earlier this year from Japanese publisher Square Enix, according to a new report. Hitman: Go developer Onoma, formerly known as Square Enix Montreal, is going out of business, with some of its 150 employees leaving to work at Eidos Montreal.

In May, Embracer announced the acquisition of three studios, including Crystal Dynamics, developer of Tomb Raider and Marvel’s Avengers, Eidos Montreal, developer of Deus Ex and Thief, and developer Square Enix Montreal, responsible for the Lara Croft GO and Killer games. pay IR. for mobile devices. In October, Square Enix Montreal was renamed Onoma.

- Advertisement -

In June, Embracer received a $1 billion investment from the Savvy Gaming Group arm of the Saudi State Investment Fund, giving the group an 8.1% stake in Embracer.

Bloomberg reports that on Nov. 1, Embracer told employees that some of them may move to “sister studio” Eidos Montreal. However, it is unclear how many will be eligible to move and how many of the roughly 150 employees and 50 quality raters will be laid off.

Onoma’s closure is part of a “wider cost-cutting initiative” company-wide, with Eidos Montreal intending to “downsize” one unannounced project and cancel another, according to Bloomberg sources.

At the time it acquired the three studios, Embracer said it saw “great potential” in the studios’ IP.

Source : PC Gamesn

- Advertisement -

Subscribe

Related articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here