Square Enix preparing to buy Eidos

Square Enix is expanding its influence and flexing its wallet as the company attempts to grab a larger share of the videogame market. It was reported this morning that Square Enix has agreed on the terms to buy Eidos for $120 million. Documents on Kotaku show the next high powered business meeting between the two companies will take place in March and if all goes well, the buyout will be official in April. There shouldn’t be any problems there as Eidos’ directors intend to recommend that Eidos’ shareholders vote in favor of Square Enix’s proposal after hearing financial advice by Citi.

When asked about the offer Square Enix president Yoichi Wada said,” 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.”

We wonder what will become of sleeping franchises like Hitman which has yet to make the leap onto current consoles. Hopefully Square Enix has an ace up its sleeve to breathe some life into Eidos’ products.