Square Enix to Acquire Taito

In the latest move amid industrywide reorganization, Square Enix Co., the maker of the Dragon Quest and Final Fantasy video games, announced Monday it will acquire smaller rival Taito Corp. for 67 billion yen. Kyocera Corp., Taito’s parent with a 36 percent stake, said it has already agreed to Square Enix’s bid. Taito, which operates 270 arcades nationwide, is known as the creator of Space Invaders, the arcade video game that became a phenomenon in the early 1980s. Square Enix was born from a merger of the two major role playing game makers two years ago. The combined sales of Taito and Square Enix stood at 158.42 billion yen for the year ended in March. 

After the acquisition, Taito will keep its name and operate as a separate entity under its new parent, the company officials said. Square Enix will aim to acquire all Taito shares through a tender offer bid between Tuesday and Sept. 21 at 181,100 yen per share. Continue

Tags: Game, kyocera, video

Posted: 23 August 2005 | Filed: Content Providers, Japan Market | Feedback | Print |