Square Enix Trying to Buy Eidos

Square-Enix have been on a bit of a buying mood the past year. A good six month back they tried and failed to buy Tecmo but now, just a few days after it was announced the UK is the second largest market for the games industry (America being number 1) Square-Enix has now put in a offer £84 million ($120 million) for Eidos.

This has been fully agreed with the board of Eidos but still needs to be agreed with 75% of the shareholders who’s next meeting is due early next month. The £86 million is 29% above Eidos market value, so Square-Enix are really wanting to buy this slowly declining British publisher who lost £100 million is 2008. But Eidos will be recommending the shareholders to accept the offer. (maybe they know their end was near?) Eidos stated that:

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.

So if all goes well, Square-Enix you’ve just bought Lara Croft and………Kane & Lynch….(oh dear)

Mega props to Kotaku for the awesome image, couldn’t resist and not use it.

Source