Square Enix says deal with Embracer Group will allow it to focus on blockchain investments

Square Enix says deal with Embracer Group will allow it to focus on blockchain investments

Square Enix said the decision to sell a large portion of its Western division to Embracer Group will help it invest in blockchain, among other things.
Sweden-based Embracer announced today that it has agreed to acquire much of Square Enix's western game development division for $300 million.As a result of the deal, Embracer Group will acquire Crystal Dynamics, Eidos Montreal, Square Enix Montreal and a catalog of intellectual property including Tomb Raider, Deus Ex, Thief and Legacy of Kain.
Square Enix said in an official statement that the deal will allow it to focus on investments in blockchain, artificial intelligence and cloud technology.The deal will help the company adapt to the changes taking place in the global business environment by allocating resources more efficiently, which will increase corporate value by accelerating growth in the company's core digital entertainment businesses.
In addition, the deal enables the launch of new businesses, moving forward with investments in areas such as blockchain, artificial intelligence and cloud technology.
The move builds on a policy to optimize its business structure, which the company laid out in a midterm business strategy unveiled May 13, 2021.Last month, Square Enix president Yosuke Matsuda reiterated his desire for the Final Fantasy publisher to create \"play to earn\" games on blockchain.In an interview with Yahoo Japan, the CEO said that he believes focusing only on traditional games will be \"not enough\" for the company going forward, and described his vision for games where users will create content and earn rewards \"However, I believe there will be a certain number of people whose motivation is to 'play to contribute,' that is, to help make the game more interesting.\"

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