Square Enix has revealed that it plans to “establish new studios” and purchase others, only a week after it offered Eidos Montreal.
Just final week, Square Enix introduced that it was promoting Eidos Montreal, Crystal Dynamics, and Square Enix Montreal to Embracer Group for $300 million. Following that announcement, it additionally revealed that it was planning on placing among the cash from the sale into blockchain and NFTs.
Square Enix’s latest monetary report has now revealed that it plans to “establish new studios” in addition to purchase others. This part of the presentation was spotted and reported by Axios’ Stephen Totilo, who shared it on Twitter.
The monetary report talks about how Square Enix plans to strengthen its IP ecosystem. One slide of the presentation says it plans to, “cultivate robust IP (including creation of new IP)” and “boost game development capabilities by establishing new studios, (mergers and acquisitions), etc”.
Another slide of the report additional reveals off Square Enix’s plans to get into blockchain and NFTs, saying, “accelerate launch and monetization of new businesses by moving forward with investments in focus fields (blockchain, AI, and the cloud)”.
One slide of the presentation explains the sale of Eidos Montreal and Crystal Dynamics a bit extra, saying that it was for “selection and concentration of company resources” in response to how the market is altering.
This information comes as a little bit of a shock contemplating Square Enix simply offered off some fairly huge IPs and builders for less than $300 million, a small quantity when in comparison with different latest acquisitions.
Recent rumours have additionally implied that Square Enix could be getting acquired itself, but when it is planning on creating new studios within the subsequent fiscal 12 months, that hearsay appears to be rather less doubtless.
All of this makes it appear to be Square Enix’s plans for the long run are to focus extra clearly on its Japanese studios as a substitute of its abroad ones, though it did verify in an announcement that it will nonetheless be publishing some like Life is Strange.
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