Square Enix Completes Eidos TakeoverAnd sees bright future for Tomb Raider makers.04.23.09 - 2:02 PM
At a press conference held in Tokyo's Royal Park Hotel, Square Enix management announced that it has completed its takeover of British third party publisher Eidos. Like Taito, Eidos has become a wholly-owned subsidiary of Square Enix Holdings. The acquisition of the Tomb Raider
makers cost 12.1 billion yen ($123.20 million USD).
After reiterating his stance that Square Enix has to become a globally successful company, Square Enix president Youichi Wada talked about his plans for the new subsidiary. While necessary restructuring was progressing and good games were produced, Eidos was suffering from mediocre sales and management issues. Close cooperation between Eidos and Square Enix and leveraging the entire group' strengths would translate into stronger sales performances, though. Wada has particularly high hopes for the Tomb Raider, Kane&Lynch and Deus Ex franchises. The Square Enix president also envisions technology sharing between the Final Fantasy makers and their new subsidiary.
Following the acquisition, the Square Enix group boasts almost 4,000 employees and an annual revenue of 164.6 billion yen ($1.68 billion US).