Square Enix in Eidos Acquisition Bid
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February 12th, 2009
Troubled publisher Eidos has been on the selling block for a long time now, and has gotten quite a few offers, though identities of possible buyers were never disclosed. Square Enix, however, has publicly revealed that it has made an offer to buy the company for 84.3 million pounds, which roughly converts to $120 million.
Eidos was acquired by SCi a couple of years ago, but has met with ever-worsening financial conditions. The publisher is host to various big name franchises, including Tomb Raider, Deus Ex, 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.
The move will have to be approved by shareholders before going through. Square notes that its offer represents a 129% premium over the worth of Eidos’ stock.
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