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Read the full thread for context, but here's a summary:
- Square's capitalized game dev costs are currently $840 million
- Square Enix is planning two phases of measures to improve its capital efficiency
- Phase 1 was the sale of Eidos and Crystal Dynamics
- Post its sale of Eidos and CD, the company will have $1.4 billion in cash and zero debt
- Phase 2 will be "diversification of studio capital structure" (essentially how different studios obtain their funding)
- As part of this, Square is reviewing its portfolio of studios and looking to sell stakes in certain studios to external entities
- Certain studios will remain 100% owned by Square Enix, while others will be partially owned (joint ventures or equity method)
- This is happening at a time when companies like Sony, Tencent, Nexon etc. are looking to buy
Still a work-in-progress, but here's a list of every creative department within Square Enix.
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