[UPDATE] Square Enix offers £84 million to buy Eidos
- Posted February 12th, 2009 at 05:18 EDT by Steven Williamson
A report on the BBC claims that Square has "agreed" to buy Eidos. Stay tuned for further info.
Japanese software giant Square Enix has offered GBP 84 million to acquire British publisher, Eidos, whose portfolio includes the Tomb Raider and Hitman series.
Things haven't been going too well at Eidos as of late. Last year its parent company, SCi, revealed in its 2008 financial report that the firm lost £100 million during the course of that year. With new CEO Phil Rogers taking over at the helm though, it was expected that the company would claw its way back following a restructure.
Sadly, that doesn't appear to be the case and Eidos directors will be recommending that shareholders accept the offer from the Final Fantasy publisher.
“Eidos maintains a strong reputation for high quality development and proven expertise in creating characters and storylines that appeal to consumers. Eidos’ products are highly complementary to our business and will accelerate our aggressive expansion into Western markets. We believe that wide range of both companies’ quality products encompassing major genres will enable us to meet diversified customers’ expectations upon a global basis.”
Further details on the deal are expected to emerge at the company's EGM where the offer will be put to its shareholders.
With Square Enix best known for its role-playing games and creating titles that cater specifically for the Japanese market, it's unclear which direction, if any, it will take with the franchises it acquires from Eidos.