Embracer Group recently acquired a few studios and IPs from Square Enix and the reasoning from the latter possibly trumps the move itself as the highlight of the deal.
Square Enix announced they are selling Crystal Dynamics and Eidos Interactive to Embracer Group, losing the subsidiaries in the process along with a few high-profile IPs, including Tomb Raider, Deus Ex, Thief and Legacy of Kain.
The reason for the bulk sale was apparently because Square Enix wants to double down in a few other fields, such as AI, cloud gaming and blockchain. Naturally, it's the last one of the group that will have the gaming community dumbfounded as blockchain and NFTs are still causing an uproar over the triviality of their importance for the end-user and the ramifications that the introduction of such systems includes in video games.
It certainly sounds like a risky move for the time being but it's hard to gauge how much Square Enix stands to gain in the long run since losing the likes of Deus Ex and Tomb Raider is kind of a big deal.
A new Tomb Raider game is already in development at Crystal Dynamics, who have had a rough stint with Marvel's Avengers, the IP Square Enix retains rights to. On the flip side, this is the studio that has been working on Tomb Raider for decades, delivering both the Legend and reboot trilogies, which were generally well-received.
Thief and Legacy of Kain series have been dormant for a long time and should the new owners do well by these IPs, we could be looking at a bright future of combined nostalgia and reintroduction to the new generations in what has become empty market space over the years.