August 29, 2008

Square Enix to Take Over Tecmo

Big news this morning, Square Enix has announced their plan to gain a majority stake in Tecmo. Square is planning to offer stakeholders a 30% premium over the closing price on August 28. Last week Tecmo president Yoshimi Yasuda left the company but the loss did not affect the talks says Sqaure president Yoichi Wada.

According to a press release (via IGN);
"Wada addressed the possibility of synergy between the two companies. He noted that Tecmo has strong global titles, something that has attracted his attention for some time. He also noted that Square Enix is an RPG-focused company, and one wouldn't call action it's strongest field. Wada explained that with this in mind, he's hoping not for cooperative development but for the two firms to "inspire" one-another."

Stay tuned for more information on this developing story at GamePlay Unlimited.

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