Square Enix has confirmed it has approached Tecmo’s board to make a friendly takeover – and it’s doing it for the good of Japan, by the sound of the official spiel.

The JPY 22.3 billion (USD 205 million) offer comes off the back of Itagaki’s departure and president Yoshimi Yashuda’s resignation, which Square Enix believes have left the company rather vulnerable. Apart from all the usual guff about how brilliant and beneficial the move would be, their statement included the following:

“The game industry in Japan is standing at a critical juncture whether it continues to be a centre of the video game industry in the world, or not.”

“Tecmo is a group of excellent creators with proven track-record in the global market, which is a precious human resource of Japan. We, however, cannot be optimistic about the future of this significant resource, given the current circumstances.”

Tecmo have until September 4th to decide. If they accept, they’ll be getting the same deal as Taito, becoming a wholly owned subsidiary of Square Enix but keeping their own organization and brand. If not, Square Enix has stated it will not pursue a hostile takeover – so it won’t turn into a protracted mess like EA’s attempts to acquire Take 2.

Of course, this isn’t going to be as altruistic as it appears. If Final Fantasy XIII breaking exclusivity tells you anything, it’s that Sqaure Enix wants sales in the Western markets. Sales that Tecmo could easily supply with future installments of Dead or Alive and Ninja Gaiden.

Tags: altruism?, Square-Enix, takeover, Tecmo

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1 Comment » greeneggsnsam on August 30, 2008 11:40 am Japanese games are very backward in their development, etc. They need to take hints from western developers, but still stick to what they’re good at. RSS feed for comments on this post. Comment Now Note: Commenting on Ripten does not currently require registration, however to be eligible for contests on the site, you must be a registered user. Name (required) Mail (will not be published) (required) Website Commenting Rules: No hate speech allowed. If you must argue, please debate intelligently. Comments containing selected keywords or outbound links will be put into moderation to help prevent spam. Ripten reserves the right to delete comments and ban anyone who doesn't follow the rules. Thanks. Notify me of followup comments Tired of the Goomba? Upload your own custom comment avatar.