Japanese entertainment conglomerate and video game company Square Enix Holdings has agreed to sell its North American studios and major game IPs to Sweden-based Embracer Group in a USD300 million deal. Skadden advised Square Enix in the transaction.
Square Enix is best known for its video game Final Fantasy. The studios to be acquired are Crystal Dynamics in California and Eidos Interactive in Montréal, while the primary IP to be divested are the video game series Tomb Raider, Deus Ex, Thief, and Legacy of Kain franchises, among others.
The Skadden team was led by M&A partners Mitsuhiro Kamiya in Tokyo and Kenton King in Palo Alto with the assistance of IP partner Ken Kumayama in Palo Alto and New York-based associates Kashira Patterson and Gabriella Manduca. Labour and employment partner Karen Corman in Los Angeles, corporate Asia Pacific counsel Louis Artime in Tokyo, and London-based associates Jason Hewitt and Sagar Singh were also involved.