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Eidos Will Keep Name in Square Enix Buyout

The proposed buyout of struggling British developer Eidos by Japanese mega publisher Square Enix has been successfully completed. Eidos will remain as an independent operation, as a wholly-owned subsidiary of Square Enix Holdings Co.,Ltd., following the completion of the £84 million acquisition last week. Phil Rogers will continue in his role as CEO of Eidos, reporting directly to Yoichi Wada, President and CEO Square Enix Holdings Co., Ltd.

According to the parties involved, Eidos will retain its brand name and a certain amount of autonomy from its new Japanese RPG overlords parent company. Presumably, that means we can expect to see more entries in established Eidos franchises like the Tomb Raider series.

Everything was rosy as executives discussed the new merger. Yoichi Wada, President and CEO of Square Enix said,

"This is an exciting beginning to what I believe will be an incredible journey. I am very happy that Phil Rogers has agreed to lead Eidos in what I see as an international marriage between our two companies, a marriage that will give birth to great things. Eidos is a content rich company and a culturally significant business to the Square Enix group."

Phil Rogers, the CEO of Eidos was similarly enthusiastic about the buyout.

"This is a watershed moment for Eidos. We have the backing of an incredible company which believes in our strategy and our people. In the Square Enix group, we have a parent company, which I have held in high respect for many years, with their meticulous level of perfection and unyielding directive to never compromise on quality. We have an incredible opportunity to truly deliver on our creative vision, this is a new chapter for Eidos."

Judging from the tone of these comments, it seems unlikely that we will see the dreaded Tomb Raider / Final Fantasy crossover game any time soon. And that's probably a good thing: