Square Enix offers to buy Tecmo

By Tom Bramwell Published 29 August, 2008

But won't push it if the answer's no.

Square Enix has said it hopes to acquire a majority stake in fellow Japanese game developer Tecmo.

The Final Fantasy giant has offered to buy Tecmo shares at 920 yen apiece (GBP 4.61 / EUR 5.72), representing a 30 per cent premium over the 28th August closing price. Reuters reckons the deal will be worth "at least USD 102 million" (GBP 55.8m / EUR 69.1m).

However, Square Enix is a compassionate consumer, and has said that while it hopes for a favourable response from the Tecmo board on 4th September, it will back off if the company isn't interested.

Should it be successful, Square Enix hopes to incorporate Tecmo in much the same way it has Taito, allowing the original brand and organisation to continue under a Squenix umbrella company.

Apparently Square Enix is attracted to Tecmo because of its ability to produce games with worldwide appeal like Ninja Gaiden and Dead or Alive.

Square Enix also pointed out that Tecmo could do with a helping hand at the moment after the company's recent troubles - most notably the departure of Team Ninja producer Tomonobu Itagaki and the resignation last week of president Yoshimi Yasuda, who Itagaki really didn't like.

Picture of Tom.

About Tom Bramwell

Tom is Operations director of Eurogamer Network and Editor-at-Large of Eurogamer.net. He joined the company in February 2000.

Read more articles from Tom by visiting the Tom Bramwell archive page.

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