Square Enix reveals plans of taking over Tecmo

Tecmo - Image 1Tecmo‘s unquestionably in a bubbling tub of hot water the past couple of months, but could their luck be changing? Square Enix has revealed earlier that they have a proposal for a friendly takeover on the beleaguered developer.

Square Enix - Image 1The take-over business is sure the in thing nowadays, isn’t it? Apart from the whole Electronic Arts-Take Two hullaballoo, there’s another one in the works, this time concerning Square Enix and Tecmo.

At 1PM today in Japan, Square Enix unveiled its plans of taking over game developer company Tecmo. The developer, responsible for bringing us solid hits like Ninja Gaiden and Dead or Alive, has been in quite some trouble for a while now, having Tomonobu Itagaki filing a lawsuit against them, and with employees resigning  and grumbling about unfair business practices. Just last week, president Yoshimi Yasuda resigned, who will then be replaced by the board of directors chair, Yasuharu Kakihara, starting September 1st.

The acquisition gameplan of Squeenix is in line with the publisher’s strategy of get a stronger grasp in the U.S. market, as well as to improve and further strengthen Squeenix’ portfolio.

More details are sure to roll out on this acquisition in the following days, so be sure to stay tuned for that. In the meantime, we’re hoping that things really do pick up for Tecmo if the takeover does happen, and that it goes smoothly, unlike with the long-drawn EA-T2 issue.

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