Tecmo Says “No” to Square-Enix
- Scribbled on September 4th, 2008 by Jonathon Howard
- Filed in Industry News, Legal Brief
The big news out of Japan this morning is that Tecmo, the embattled developer with a big employees problem, has turned down Sqaure-Enix’s generous offer of $206 million to acquire a controlling share of the company. Instead, Tecmo has announced that they will be merging with rival Koei.
A Square-Enix spokesman said the the company will be looking at Tecmo’s reason for refusing the Square offer and looking into the proposed merger agreement when it is released in the next month or two.
I haven’t been trolling forums to get gamers opinions on this, but merely from a business standpoint it doesn’t seem like the best move on Tecmo’s part. Square-Enix is a large company with a lot of capitol to throw around and having that takes a lot of pressure off developers counting on the next project to save them… I can’t see what Tecmo or Koei gets from the merger, it still leaves them a bit player in the industry.
As it plays out we’ll let you know what happens.
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