In a 2014 interview with Nikkei Trendy, Square Enix President Yosuke Matsuda reflected on the company’s struggle. After an “extraordinary loss” of 10 billion yen, the company restructured its management team for the first time since its merger. Meanwhile, Square Enix continued to find success in Asian markets and was expanding into territories like Korea. Neither Tomb Raider or Hitman: Absolution moved over 4 million units at that point. In an earnings report at the time, the company noted that Western titles were routinely failing to hit sales targets. By 2013, Square Enix was struggling to make a name for itself in the West. It was folded into Square Enix Europe, a subdivision that would focus on growing the publisher’s Western audience. Eidos played a crucial role in Square Enix’s growth. The most significant turn happened in 2009 when Square Enix bought Eidos Interactive, the publisher behind Tomb Raider and Hitman, and its subsidiaries. Over the next decade, the publisher would rapidly expand, picking up companies like Space Invaders publisher Taiko and creating new studios to expand into new markets. If you focus too much on the global aspect, you might lose sight of who you’re actually making the game for.īut Square Enix wasn’t content with just being the king of one genre. It was a match made in RPG heaven, creating a new Japanese megapower that held the keys to Final Fantasy, Kingdom Hearts, the Chrono series, Dragon Quest, and more. It began in 2003 when Square and Enix joined forces in a landmark merger. The rise of Square Enix as gaming’s most eclectic publisher is a story 20 years in the making. It’s hypothetically good news for everyone involved, though Square Enix is already in danger of making the same mistakes. Square Enix is selling its way out of an identity crisis that was only hurting the studios under its banner. It’s yet another chapter in gaming’s current acquisition craze, but one that feels more necessary than other recent examples of corporate consolidation.
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Embracer Group will pick up all three studios for $300 million (a paltry number next to Microsoft’s $69 billion Activision Blizzard purchase), giving the company access to beloved franchises like Tomb Raider and Dues Ex.
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On Monday, the publisher announced that it was selling three of its biggest internal studios: Eidos, Crystal Dynamics, and Square Enix Montreal. In 2022, that rapid growth was starting to feel unsustainable and it appears that Square Enix agreed.