Square Makes Eidos Buyout Bid

Confirming recent rumors, Japanese publisher and Final Fantasy series developer Square Enix today made an offer to buy Eidos for 84.3 million pounds, or $120 million.

The overall company, which recently changed its name from SCi to that of its well-known publisher subsidiary Eidos, has long been the subject of frequent takeover rumors due to ever-worsening financial conditions. It owners numerous development studios and properties, including Tomb Raider, Deus Ex, Carmageddon, Hitman, and Kane & Lynch.

"Eidos' products are highly complementary to our business and will accelerate our aggressive expansion into Western markets," said Square Enix president Yoichi Wada.

Before moving forward, Eidos will need a majority of its shareholders to approve of the acquisition, with a meeting scheduled for March. Square noted that all of Eidos' directors "intend unanimously to recommend" that shareholders take the offer.

According to Square, its offer represents a 129% premium over the worth of Eidos' stock, as of yesterday, February 11, 2009.

Chris Faylor was previously a games journalist creating content at Shacknews.

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From The Chatty
  • reply
    February 12, 2009 8:15 AM

    Wha Wha Whaaaat?

    What kind of game would come out of this arrangement? Complimentary in what way? It's more palatable reach to Euro-American audiences?

    • reply
      February 12, 2009 8:50 AM

      Yes - Square craves publishers that are based more heavily in NA and Europe. Also, to continue their plan of world domination by pumping out Final Fantasy spinoffs until the world depends on their production, and then cutting us off.

    • reply
      February 12, 2009 9:01 AM

      Yeah doesnt seem complimentary at all... whatever though as long as they keep perfecting the Hitman series.

      • reply
        February 12, 2009 10:38 AM

        If by "perfecting" you mean beefing the graphics up, I am sure Square won't have a hard time "perfecting" the Hitman series. Just like they did with the crappy ass FF games that have been released since Final Fantasy 7.

        Bring back FF3( American ) style game play with focus on storyline, combat and controls and you got a winner! Never mind the graphics!!!!

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