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Eidos Parent SCi Closes Takeover Talks
by Aaron Linde, Jan 11, 2008 10:54am PSTMidway's hopes of acquiring properties like Tomb Raider and Kane & Lynch will have to wait; Eidos parent company SCi has put a stop to discussions concerning a takeover and is no longer entertaining offers from potential buyers, Yahoo reports.
The company cut off talks after a lack of any formal offers from interested parties and a belief that the company would not be sold for its full value.
In lieu of a corporate bail-out, SCi has announced that it expects a financial loss for 2008 and plans to shift the release dates of four titles—including Crystal Dynamics' Tomb Raider: Underworld (PC, PS3, X360)—into the fourth quarter in the hopes of boosting sales via the holiday rush.
Comments
Well, YEAH. Only a gullible company would acquire a smaller one for full value, unless there's a very VERY good reason for acting fast and paying full price. What's probably next for SCi and Eidos is a few more quarters of losses, a few disappointing releases, and then getting snapped up for a significant discount, if not a steal.
It's not 1998; Eidos can't count on Tomb Raider to be a smashing success. Kane & Lynch was met with lukewarm reviews, and there are plenty of gamers and gaming press that like Eidos less than they did a year ago. It's not going to be an easy year for Eidos.
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