Square Enix sells its western studios and hits such as Tomb Raider for $300m

The Japanese gaming company behind Final Fantasy is selling off three studios, including the rights to hit franchises including Tomb Raider, in a $300m (£240m) deal. Tokyo-based Square Enix has sold US-headquartered Crystal Dynamics and Canada-based Eidos Montreal and Square Enix Montreal to the Nasdaq-listed Swedish gaming group Embracer. The deal includes the intellectual property (IP) rights to games such as Tomb Raider, which has sold more than 88m units, Deus Ex, Thief and Legacy of Kain. It also includes 50 back catalogue games and will add 1,100 staff to Embracer, taking its global headcount to more than 14,000. "We are thrilled to welcome these studios into the Embracer family," said Lars Wingefors, co-founder and group chief executive at Embracer.