Square-Enix Continues Eidos Pursuit, Snaps Up More Shares
Earlier this month, it was revealed that Square-Enix was the major pursuer of struggling Tomb Raider publisher Eidos, and the RPG veteran hasn't backed off.
According to GamesIndustry.biz, "Insight Investment Management and Pioneer Investment Management have sold about 11.13% of the issued share capital to Square-Enix, at the price of 32 pence per share." Now, whether you approve of this deal or not unfortunately doesn't matter; many others do, including Pioneer and Warner Bros. Square-Enix also said it currently has "irrevocable undertakings to vote in favour of the resolutions to be proposed at the Court Meeting and the EGM in respect of, in aggregate 84,947,489 Eidos Shares representing 32.23 per cent of the existing share capital of Eidos." The bottom line is that Eidos may soon become a Square-Enix property, and the latter can continue its push westward. It has been S-E's goal for a while now (perhaps you didn't notice the timed and full Xbox 360 exclusives they've been producing), and the acquisition of Eidos appears to be a logical step in the process. One can only hope that they don't futilely attempt to somehow combine the Tomb Raider and Final Fantasy franchises...that would be a horrendous mistake.
Anyway, we'll let you know when this deal is finalized. It seems inevitable at this point, but you never know what might happen with these big business deals. Even business executives can go crazy.
2/24/2009 Ben Dutka