We knew back in December that there was a good chance that RPG giant Square-Enix would bid to buy Eidos, but this morning brought confirmation that that was indeed the case. The bid for the company is valued at GBP 84.3 million (or roughly $119.8 million, based on the current exchange rate). The Eidos Board of Directors have agreed to recommend the offer to shareholders, which could mean that Lara Croft could look like an androgynous boy by sometime next year.
Square-Enix has also promised that if the deal is done, all current employment rights of the management and employees will be safe, which is surely a relief to employees quaking in their boots over the announcement (not to mention the current financial crisis). Yoichi Wada, Square-Enix president and generally the guy with the best name in the industry, put his two cents forth on the possibilities:
“Eidos is a talented developer and publisher of interactive entertainment products with a broad portfolio of highly successful mass market franchises, led by Tomb Raider, one of the most successful videogame franchises of all time.
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.”
Early March will bring more details on the offer. Square certainly is making their interest in Western development clear as day … no communication problems here! I can’t help but wonder how we might see Eidos change if this buyout takes place. As a gamer, do deals like this have any effect on the way you think of these companies, or do you stay clear of the business jibberjabber?