I've seen some people suggesting it's not as simple as $300 million. Are they paying off debt as well? Anyone more familiar with the language used below?

"The total purchase price amounts to USD 300 million on a cash and debt free basis, to be paid in full at closing."

I think the seemingly low purchase price tells you that the business is a mess. It doesn't matter whether there were people bidding against Embracer or not. Square Enix had to see that $300 million of cash was better than holding on to these studios and IP. Considering the inclusion of Tomb Raider, the purchase price indicates to me that the studios they've purchased are not functioning well, don't have the talent they need to make good games, or otherwise just aren't in good shape. Otherwise, they'd be worth way more than that.

This wasn't a fire sale. Square Enix did not have to sell if they didn't get an offer they wanted to accept.

I see why MS and Sony is not in the running. People forget but Sony is wrapping up that 3 Bn for Bungie and MS is wrapping up Bliz/Acti so neither probably at this time was interested in anything that could rock the boat on their purchases as well as the administrative effort it takes going through the whole process. It appears that Embracer was at the right moment with the right price at the right time, so they reap the rewards.

It's not like Sony will be losing Tomb Raider or Deus Ex on their platform though. Those IP's used to hold a lot of weight in gaming but this is an industry that moves quickly. I think it says a lot more that major players didn't want to bid 300M+ for these studios & their IP's. I actually think this makes a Square Enix acquisition from Sony a lot more palatable (w/ a cheaper valuation) without any bloat to hold it down. 

As for Embracer making a move to enter console gaming, I find that to be unlikely, since they don't own any major IP, and will be fighting an uphill battle against established platforms with significantly less capital expenditure. A subscription service however? That is a lot more probable but still very unlikely.

I don't think the Bungie deal can fall through in the same capacity that the Activision deal can. The more likely scenario is Sony thinks its not worth it. 

You really do not know.  None of us know until each company gets approval.  We are on the outside looking in and have no real clue what is going on and the discussions, meetings and what not.  Just think of it this way, until you get things signed, its best not to go into anything believing it will just work.  Even still 3Bn is a tidy sum and Sony probably have a lot of work between now and when the sale is complete before doing anything else.

.....Well this is not what I expected to wake up too. Well....Yong will certainly give me a video for a lunchbreak now.

On the one hand, Square could use this to go more Japanese again which we all seem to prefer. On the other hand I have no idea of Embracer is seen as Swedish-Tencent by people nor not so I'll have to see how the reactions are.

While that is true, there aren't reports from Bloomberg or Jason Schreier, about the Bungie deal being in danger of falling apart.

IIRC, Jason Schreier brought up the challenges of regulatory approval shortly after the Activision buyout was announced. We also didn't have any senators talk about Sony/Bungie with the same scrutiny as Microsoft/Activision Blizzard.

I read a tweet that summed it nicely.

“Square is really more interested in Crypto than Tomb Raider. What a time to be alive.”

Only $300 million, what the hell? Embracer keeps making huge strides with sidelined IPs while Square Enix is seemingly run by idiots.