Square Enix outlines “A New Chapter for Eidos”

Valerie | 29 Apr 2009, 08:24

Edge Online reports that following Square Enix’s £84 million acquisition of British games publisher Eidos, makers of the Lara Croft: Tomb Raider video game last week, it has confirmed that Eidos will retain its branding and continue to run as an independent operation. Phil Rogers will continue as CEO of Eidos, which is now a wholly-owned subsidiary of Square Enix Holdings.

Speaking to the Financial Times, Yoichi Wada, president and CEO of Square Enix acknowledged that Japanese games companies had started to lag behind those in the west:

“In the last five to 10 years, the Japanese games industry has become a closed environment, with no new people coming in, no new ideas, almost xenophobic. It is now slightly behind western counterparts.

“The lag with the US is very clear. The US games industry was not good in the past but it has now attracted people from the computer [industry] and from Hollywood, which has led to strong growth.”
Last week Square Enix revealed global sales figures for its biggest franchises, including those acquired following its buyout of Eidos. The company’s newly acquired Tomb Raider and Hitman franchises have sold 30 million and eight million units respectively.“

The acquisition marks an important milestone for the Japanese firm as it continues to expand its presence in the west, and provides a strong foothold in the UK market.

Tiga,a national trade association for the games industry in the UK and Europe has recently called on the Government to focus on supporting new and creative industries like the video games sector, including measures to provide finance for investment, acknowledging that “the UK video games industry is part of the UK’s digital future and a classic example of our knowledge based economy”.