Square Enix has announced that it intends to "establish new studios" and acquire other companies just a week after selling Eidos Montreal.
Square Enix announced that it would sell Eidos Montreal, Crystal Dynamics, and Square Enix Montreal to Embracer Group for $300 million. Following that announcement, it also disclosed that it intends to invest some of the money from the sale into blockchain and NFTs.
Square Enix''s recent financial report has now revealed that it intends to "establish new studios" as well as acquire other companies. This part of the presentation was spotted and reported by Axios'' Stephen Totilo, who shared it on Twitter.
Square Enix intends to expand its IP ecosystem, according to a financial report. One slide of the presentation said it will "cultivate robust IP (including the creation of new IP)") and "boost game development capabilities by establishing new studios, (mergers and acquisitions), etc.
Square Enix''s intention to integrate blockchain and NFTs as a way to improve its launch and monetization, according to a new report, "accelerate the launch and monetization of new businesses by moving forward with investments in specific areas (blockchain, AI, and the cloud)."
In response to the changing circumstances, one slide of the presentation explains the sale of Eidos Montreal and Crystal Dynamics a bit more, claiming that it was for "selection and concentration of company resources."
These developments come as a surprise given that Square Enix just sold some pretty big IPs and developers for $300 million, a small amount when it comes to other recent acquisitions.
Recent rumors suggest that Square Enix might be acquired by itself, but that if it''s planning to develop new studios in the next fiscal year, that rumour is a little less likely.
All of this makes it seem like Square Enix''s future plans will focus more clearly on its Japanese studios rather than its overseas ones, although it did confirm in a statement that it would still publish some like Life is Strange.