The history of Square Enix’s Western game business can be summed up in two words: “missed expectations.” The company repeatedly threw its own games under the bus for underperforming, and it was never exactly clear what sales milestone Square Enix was hoping to achieve with its reboots of Tomb Raider, Deus Ex and Hitman.
Square Enix wanted, but never got, a big hit. The sale speaks to the state of the game industry in many different ways at once: about single-player gaming as a business, Square Enix’s management style and how classic properties as well known and beloved as Tomb Raider can be worth peanuts compared to mobile, free-to-play games.
Square Enix, the Japanese publisher known best for Final Fantasy, said it has agreed to sell off its Western studios and intellectual property to the acquisition-hungry Swedish holding company Embracer Group, including the Tomb Raider franchise, for just $300 million. Another week, another major video game acquisition.
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