It’s been another busy year for Square Enix between the releases of Crisi Core: Final Fantasy VII Reunion, Forcepoken and Octopus Traveler II. However, the company still wants to expand, which could include setting up new studios or acquiring them.
Square Enix has revealed today that it is considering setting up new studios and acquiring existing ones as part of its plans to expand its internal development resources.
according to slide from the company Full earnings report Square Enix, which was released today, plans to “consider M&A, establish new studios, and acquire minority shareholders” to bring in more external development resources.
Additionally, the company plans to hire more engineers and developers to “develop future cross-platform content, not just HD games and smart device games.”
Square Enix also revealed a decline in sales and profits for fiscal 2023, partly due to the lack of expansion compared to last year’s Final Fantasy XIV DLC. and The company expects 2024 to be even better.
Earlier this year, Forspoken developer Luminous Productions was acquired back by Square Enix to continue developing AAA games, but in March Square Enix announced that Forspoken’s sales were “lackluster.” Its president, too, recently stepped down after a decade-long tenure that ended in a controversial defense of blockchain.
Amelia Zellner is a freelance writer at IGN who loves all things indie and Nintendo. Outside of IGN, she contributes to sites like Polygon and Rock Paper Shotgun. Find us on Twitter: @Amelia Solner.
