Eidos’ Lara Croft Secured by Square Enix’s $117 Million
March 4, 2009 by itsamyxp
Lara Croft’s future is finally secure, and she’s going to be hanging out with a different crowd now. Eidos Interactive has reached an agreement with Square Enix, shareholder approvals will take place on March 25th. If all goes well, Square Enix will take full ownership of the UK-based Tomb Raider publisher by May 6 at a whooping $117 million buyout.
Time Warner who still holds 20% of Eidos will be obligated to sign on the line unless they provide a reasonable offer to the board. The share value of Eidos’ has been on a steady decline as the company’s debts continue to grow. Their latest titles Tomb Raider Underworld has lacked in sales reducing their profits for the year.
Square Enix, who’s been looking for more Western talent in the last few months, is the last place I expected for Lara Croft. It would be certainly be a new twist.
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