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Square Enix Europe

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For the parent company briefly named Eidos plc, see Square Enix Europe.
Eidos Interactive
Formerly
  • Antrocrown Ltd. (1984)
  • Domark Ltd. (1984–90)
  • Domark Group Ltd. (1990–96)
Company typeSubsidiary
IndustryVideo game industry
FoundedMarch 29, 1984; 40 years ago (1984-03-29)
FounderStephen Bernard Streater
DefunctNovember 9, 2009 (2009-11-09)
FateReformed to Square Enix Europe
SuccessorSquare Enix Europe
Headquarters
Wimbledon, London
,
United Kingdom
Key people
Stephen Bernard Streater (Founder)
Ian Livingstone (Eidos President and CEO)
Phil Rogers (Square Enix Europe CEO)[1]
ProductsList of Eidos games
RevenueIncrease £179.1 million (2006)
Increase £28.8 million (2006)
Increase £8.1 million (2006)
OwnerIndependent (1990–2004)
Sci Entertainment (Eidos plc) (2004–09)
Square Enix (2009–)
Number of employees
600
Websitewww.eidos.com

Eidos Interactive Ltd. (/ˈaɪdɒs/) was a British software technology developer and video game publisher, now operating as Square Enix Europe.[1] The company was headquartered in the Wimbledon Bridge House in Wimbledon, London Borough of Merton.[2][3] The company has had offices all around the world, including the United States, Canada, Germany, France, Australia and Japan.

Prior to its best known games, Eidos developed Full Motion Video (FMV) compression techniques on platforms such as the RISC OS computers of the early 1990s. Its best-known game series include Tomb Raider, Hitman, Commandos, and Deus Ex. Eidos officially became part of Square Enix on 22 April 2009. Following a reorganization of the company, Eidos was merged with Square Enix's European operations into Square Enix Europe.[1] The Eidos brand currently lives only through the development studio Eidos Montréal, and is also used as a label for games developed by former Eidos-owned developers like Crystal Dynamics and IO Interactive released before take-over by Square Enix Europe.[4]

History

Takeover by SCi

On 3 August 2004, the Wall Street Journal reported that Eidos was in preliminary discussions with a small number of companies in relation of a possible business combinations. In early March 2005, Eidos admitted that cash reserves had dwindled to £11.9m during the second half of 2004, and pre-tax losses had grown to £29m.

On 21 March 2005, Eidos received a takeover bid from Elevation Partners, the private equity firm owned by former Electronic Arts president John Riccitiello and with a number of notable partners, including U2's lead singer Bono. This takeover valued the company at £71m ($135m), and would inject £23m in order to keep the company solvent in the short term.

On 22 March, Eidos received a second takeover bid from the British games manufacturer SCi Entertainment. Sci offered £74m ($139m), and tabled a restructuring plan to cut £14m from annual costs. To fund this takeover, SCi proposed to sell £60m worth of stock. Eventually, in late April, Elevation Partners formally withdrew its offer, leaving the way clear for SCi. The takeover was finalized on 16 May 2005.

Since the Sci purchase, the vast majority of the old Eidos management were let go. SCi left their Battersea Office and moved into the old Eidos office on the second floor of Wimbledon Bridge House, 1 Hartfield Road, Wimbledon. Eidos announced on 15 February 2007 that they would open a new studio in Montreal, Quebec, Canada responsible for "new undisclosed next-generation projects". Eidos Montreal started developing a new game in the Deus Ex franchise.[5][6]

In February 2007, Eidos acquired Rockpool Games, along with its two sister companies Ironstone Partners and SoGoPlay.

On 4 September 2007, the board of Sci Entertainment confirmed recent speculation that the company has been approached with a view to making an offer.[7] On 10 January 2008, SCi announced take over and/or merger talks had been halted.[8] As a result, the share price dropped by over 50%. Major investors called for the resignation of key personnel, including CEO Jane Cavanagh, over this issue as well as delays to key titles.[9] On 18 January 2008, Jane Cavanagh, Bill Ennis and Rob Murphy (Managing Directors of Publishing and Studios, respectively) left the company.[10]

Eidos's parent company, Sci, revealed its 2008 financial report. Losses were at £100 million, but new CEO Phil Rogers claimed this was only due to the reconstructing plans.[11] On 19 September 2008, Eidos opened a Shanghai-based studio consisting of a small team to build up relations in Asia.[12] On 3 December 2008, Sci changed its name to Eidos plc (the name of Eidos, prior to the Sci takeover), and also changed its London Stock Exchange ticker symbol from SEG to EID.[13]

Part of Square Enix Europe

In February 2009, Square Enix reached an agreement to purchase Eidos for £84.3 million, pending shareholder approval,[14] with an initial aim of fully buying Eidos on 6 May 2009.[15] The date was brought forward and Square Enix officially took over Eidos on 22 April 2009.

Although Square Enix said earlier that it would let Eidos Interactive remain as it is currently and not meddle in its internal affairs,[16] it has stopped publishing games under the Eidos brand, with new games coming out under the Square Enix brand instead. Currently, the Eidos Interactive logo only appears for games developed by former Eidos-owned game studios as well as Eidos Montreal and Eidos Shanghai studios

Studios

Current

Part-owned

Defunct

See also

References

  1. ^ a b c "Square Enix retires Eidos publishing label". 2009-07-08. Retrieved 2009-07-10.
  2. ^ "Corporate Information." Eidos Interactive. 11 February 1998. Retrieved on 30 January 2011. "Eidos Interactive UK Wimbledon Bridge House 1 Hartfield Road Wimbledon London SW19 3RU."
  3. ^ "Worldwide Contacts." Eidos Interactive. 27 January 2005. Retrieved on 30 January 2011. "Eidos plc. Registered Office Wimbledon Bridge House 1 Hartfield Road Wimbledon London SW19 32RU ."
  4. ^ "Square Enix revamps Europe operation". GamesIndustry.biz.
  5. ^ "Eidos Announces Deus Ex 3, Talks New Montreal Studio". Gamasutra.
  6. ^ "Eidos resurrecting Deus Ex?". Gamespot.
  7. ^ "SCi confirms approach has been made". GamesIndustry.biz.
  8. ^ "Lara Croft firm scraps bid talks". BBC News. 11 January 2008. Retrieved 3 January 2010.
  9. ^ Armitstead, Louise (13 January 2008). "Game Over for Tomb Raider boss". London: Times Online. Retrieved 1 May 2010.
  10. ^ "Eidos management quit due to pressure from shareholders". Thunderbolt Games.
  11. ^ "SCi results reaction". MVC.
  12. ^ "Eidos opens Shanghai base". MVC.
  13. ^ "SCi Entertainment Group Plc – Change of Company Name to Eidos plc". SCi Entertainment Group PLC. 2008-12-02. Retrieved 2009-01-18.
  14. ^ "Square Enix Trying To Buy Tombraider". Kotaku.
  15. ^ "Eidos Pencils In Square Enix Takeover For May". Kotaku.
  16. ^ Mike Fahey. "Square Enix Lets Eidos Be Eidos". Kotaku. Gawker Media.
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