Today at 1pm Japan Time, Square Enix will be outlining its plans for a friendly takeover troubled game maker Tecmo. Square Enix's takeover would help the company gain a stronger foothold in the U.S. market with popular Tecmo titles like the Ninja Gaiden and Dead or Alive games. What's more, Tecmo's games will help strengthen Square Enix's current portfolio, which is heavily dependent on RPGs.
This isn't the first time Square Enix has moved in on a beleaguered company. In August 2005, Square Enix acquired Taito and wholly owned the company as a subsidiary by September 2005.
Update: Square Enix has released a statement (after the jump) explaining his Tecmo takeover plan. It includes offering to purchase a controlling interest in Tecmo by purchasing shares in that company at 30 percent premium (¥960 a share compared to yesterday's close price of ¥706 a share). The Tecmo Board of Directors has until September 4 to approve or reject this offer. If rejected, Square states, "We will withdraw our offer."
I'm surprised Microsoft didn't make the move really. Seeing as DOA and Ninja Gaiden are seen as "Xbox games". I don't know what to make of this really.
Itagaki is rolling over in his grave though.
