EIDOS SAVED

LONDON (Reuters) - Video games maker Eidos has agreed a 71 million pounds cash offer from a unit of U.S. private equity company Elevation Partners LP, the firms say.
The offer price was 50 pence per Eidos share, a premium of nearly five pence on their Monday closing price of 44 3/4 pence.

"The board firmly believes that shareholders' interests are best served by a sale of the company," John van Kuffeler, chairman of the board of Eidos, said in a statement.

Eidos said earlier this month that it had received an approach on March 2 about a possible offer at 53 pence per share.

The company said it needed a formal offer within a fortnight to satisfy the terms of a new 23 million pound loan from Royal Bank of Scotland.

Shares in Eidos hit a 10-year low on March 10 as delays to key new titles, tough terms on a bank loan and a first-half loss outweighed news of the takeover approach.

The company is perhaps best known for its Lara Croft Tomb Raider series of video games.

It posted a bigger-than-expected 26.5 million pounds operating loss before goodwill in the six months to December 31, on turnover down 60 percent to 31.5 million pounds.

The company has said it was hit particularly hard by weaker sales in its top market, the United States.

Good in some ways that another developer looks like not going under :smt023
But bad in others that we can get rare kit :smt014

 

Isn't that the investment company Bono's involved with?

 

Impressed!!!!

He is!

http://news.ft.com/cms/s/a2bd0f18-9a62-11d9-a094-00000e2511c8.html

http://www.elevation.com/

 

Aw fuck, they're still around. One more crappy developer to clutter the store shelves...

I guess the only consolation is that it wasn't EA that bought them... now we'll just have to deal with a lot of U2 games involving rooms that all look the same and repetitive block puzzles.

 

I thought I could finally say good buy to Tomb Raider.

 

so no 3rd christmas of the year? (the second was the Acclaim sale, sure )
damn Grinch!

 

You can... and say hello to U2omb Raider.

 

this is Bono's revenge for not getting nominated for head of the world bank

 

fuck eidos.

 

NoooooooOOOOOO!!!

Dammit....

.... I really hope they use this "second life", so to speak, to NOT make crap games. Will they have learned their lesson?

Magic 8 ball says "unlikely"

 

Eleven Idiots Dreaming Of Success ...... and they almost fucked up totally!

BTW EIDOS didn't make Tomb Raider they just published it, Core developed it -_-

 

Of all the people who were going out of business, Eidos were the ones I cared least about. Bono's a jerk face. Why didn't he save Technos Japan, or Compile!?!?

 

because he's in an investment firm. I'm sure they realize tomb raider and other licenses can and will make money if used properly.