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Embracer CEO confirms TimeSplitters studio faces closure before Christmas
(www.videogameschronicle.com)
this post was submitted on 28 Nov 2023
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Really? I didn't hear that people were shocked at thinking 300 million USD was that little of money for Eidos. It seems about right to me. Especially through Square Enix's eyes where they had just put out GOTG which didn't sell well enough to them.
Square Enix was going to close down or sell IO Interactive as they had pulled funding and were talking to other companies to sell them off. IOI employees triggered the MBO clause and made SE sell to them. This was only 2017.
2017 is ancient history compared to the current economic climate, and that sale came out of an attempt to make games episodic to their detriment. $300M seemed low considering the buyer makes that money back with probably 1.5 Tomb Raider games, and Deus Ex and all of those other Eidos properties are a bonus. Yes, the deal seemed crazy for Square Enix at the time.
I feel like your are over estimating the tomb raider profits there.
They sold 9 million copies of Shadow of the Tomb Raider. I think I'm in the ballpark. And again, that's only Tomb Raider, when they're not blowing their money on a live service Avengers game that everyone knew was a bad idea.
Marvel's Avengers was mainly Crystal Dynamics, not Eidos-Montreal. I don't think another Tomb Raider would sell exactly as well as Shadow Of The Tomb Raider. Also, come to think of it, I don't think Eidos-Montreal has the Tomb Raider IP.
Embracer got all of these studios and most of their IPs in the sale, the two biggest being Tomb Raider and Deus Ex. I focused on Tomb Raider because it's the most valuable one in that purchase and almost makes the sale worth it on its own, or it seemed to before the economy turned, but they got plenty more besides just Tomb Raider.
Hmm, that's a good point, and looking back I didn't realize it was 300 million for both Crystal and Eidos... that's pretty cheap considering the IP attachment but I think Square Enix was also looking to shed a lot of their studios.