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SCi renamed Eidos as buyout rumors swirl * By Tor Thorsen, GameSpot * Posted Dec 2, 2008 1:57 pm PTBritish publisher assumes subsidiary's moniker as demi-tabloid The Daily Mail re-stokes EA, Ubisoft takeover speculation.As Atari touts its new lineup at today's UK event, another British publisher is also making headlines. This morning, cash-strapped SCi Entertainment announced that it was assuming the name of its subsidiary Eidos Interactive...minus the "Interactive." As of today, the company will be called simply Eidos, and its ticker symbol will change from SEG to EID on the London Stock Exchange.Though the former SCi gave no reason for the name change, Eidos is a better-known brand, thanks to such series as Tomb Raider. In May 2005, SCi scooped up Eidos following a protracted bidding war with venture-capital firm Elevation Partners. Elevation went on to form super-developer BioWare/Pandemic and then sell it to Electronic Arts for $860 million in late 2007.Speaking of buyouts, it appears the newly christened Eidos might be itself the subject of a takeover. On Sunday night, the British demi-tabloid The Daily Mail reported that "a source familiar with the matter" said the financially troubled publisher had received buyout overtures from Electronic Arts and Ubisoft. If that latter scenario sounds familiar, it should. In late 2007, rumors swirled that the Paris-based Tom Clancy publisher was courting then-SCi, along with Time Warner and an unnamed Chinese company.
Wha?! That's kind of an odd one.. Although now I'm looking forward to a Square-Enix stylized Tomb Raider.Seriously though, who saw this coming?
That's like seeing the hot English chick in high school go to the prom with the Asian nerd who dressed funny and hung out at the back of the class doodling, instead of the quarterback everyone's been seeing her flirt with.
Square takeover of Eidos given green lightOne of the last UK publishing houses will come under foreign ownership next month as shareholders in Eidos voted with an overwhelming majority to accept the bid by Square Enix.The Final Fantasy publisher, which offered 32 pence per share in February under the SQEX holding company, will gain control of Eidos and its constituent parts after the publisher's shares are delisted, which is estimated to happen in late April.At a court meeting over 85 per cent of the shares held in the company were represented in votes cast to accept the bid, and at the subsequent EGM the motion required to implement the acquisition was also approved.Among the properties that Square Enix will take control of are the Tomb Raider, Hitman and Championship Manager franchises, although there's no word as yet on what changes the new owners will make to the company's structure.
Following the completion of the £84 million acquisition last week, Square Enix confirmed that Eidos will continue to operate independently as a wholly-owned subsidiary of the giant Japanese publisher.Phil Rogers will continue in his role as CEO of Eidos, reporting directly to Yoichi Wada, President and CEO Square Enix and Eidos will continue to focus on delivering on the clear strategy to leverage the company's franchises and develop world class games. Also confirmed is that the 'Eidos' brand will continue to be the brand identity for the business."This is an exciting beginning to what I believe will be an incredible journey," said Yoichi Wada, President and CEO, Square Enix. "I am very happy that Phil Rogers has agreed to lead Eidos in what I see as an international marriage between our two companies, a marriage that will give birth to great things. Eidos is a content rich company and a culturally significant business to the Square Enix group."Phil Rogers, CEO, Eidos, said:"This is a watershed moment for Eidos. We have the backing of an incredible company which believes in our strategy and our people.In the Square Enix group, we have a parent company, which I have held in high respect for many years, with their meticulous level of perfection and unyielding directive to never compromise on quality.We have an incredible opportunity to truly deliver on our creative vision, this is a new chapter for Eidos."
