Sep 05 2008
Temco rejects Square Enix takeover
Kotaku has reported that the Tecmo board of directors has rejected a proposed takeover by Square Enix.
The addition of Temco, whose games include Ninja Gaiden and the Dead or Alive series, would have been a big addition for Square Enix (Final Fantasy, Dragon Quest and Kingdom Hearts).
A statement issued by Tecmo noted that the company “collected opinions from management and game creators as well as a wide range of employees” and decided against the offer. However, word is out that the company is in talks with Japanese company Koei (Dynasty Warriors) over a possible merger.
A statement released by Tecmo is as follows: “As the game industry environment changes with high-powered hardware, portable game machines and rapid growth as well as online mobile games, the accelerating consumer needs are varied and sophisticated. The industry has intensified. Multi-platform and the importance of overseas markets is pushing the industry towards global competition.
“…Under these circumstances, these two companies have excellent financial positions, strengths and the ability to take advantage of each other in order to improve profitability and solidified the foundation of a worldwide leader.”
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