Crystal Dynamics To License One Of Its ‘Largest IPs’ To A Third-Party Studio In New Partnership

The ongoing rate of releases for Crystal Dynamics has been at a plateau for a few years now. After completing its Tomb Raider trilogy with Square Enix, the firm went on to do live-service for Marvel’s Avengers. And it was only by April 2023 that work has ceased on further support. Since then, it was confirmed the team has been assisting in the development for Xbox Game Studios’ Perfect Dark remake alongside developer The Initiative.

Additionally, Crystal Dynamics found a new home back in 2022 under Embracer Group when the team and other western studios were sold by Square Enix. The deal went on to kick off a new arrangement with Amazon to publish a new Tomb Raider title. From the acquisition then, the parent company said remasters & remakes were in order to kick off productivity.

So far, Legacy of Kain Soul Reaver 1-2 Remastered was birthed from that concerning Crystal Dynamics. However, there are more plans for the developer’s IPs according to Embracer Group. In the most recent Q4 FY2025 financial report, Crystal Dynamics is to license one of its major IPs to a unnamed, third-party developer as part of a new agreement formed.

“ Crystal Dynamics recently signed an agreement with an external partner for one of its largest IPs. The company has accelerated business development, both with new and existing partners, to expand the project portfolio, including co-development, with more deployment of further internal development resources across the Embracer group.” Details are still sparse on whom or what IP is being developed from this new deal.

Previously, Embracer Group was hit with layoffs back in June 2023. But, the teams that were working on Tomb Raider & Perfect Dark were to be unaffected. Despite that, now licensing appears to be the result for this new project not being developed in-house. You can read the full report by heading here.

Are you surprised Embracer Group is going this route for Crystal Dynamics?

Source: Embracer Group