You see, it wasn’t as crazy as a lot of people thought. Square Enix have put in their bid to acquire Eidos for £84 million, which, according to reports, represents a 129 percent premium over Eidos’ current value.

While the offer has not yet been approved, it is believed that Eidos directors will recommend that shareholders accept the offer. Eidos chairman Tim Ryan said:

“We believe that this cash offer provides Eidos Shareholders with an attractive price and certainty in today’s challenging market backdrop and economic outlook.

“The acquisition of Eidos will complement Square Enix’s expansion into Western markets and offers mutually beneficial opportunities for the combined group. The Board believes that this offer is in the best interests of the shareholders.”

Square Enix, meanwhile, believes that the acquisition offers “a highly attractive opportunity for the Square Enix group to create further value [for its shareholders].” Square Enix president Yoichi Wada enforced this sentiment by saying:

“Eidos is a talented developer and publisher of interactive entertainment products with a broad portfolio of highly successful mass market franchises, led by Tomb Raider, one of the most successful videogame franchises of all time.

“Eidos maintains a strong reputation for high quality development and proven expertise in creating characters and storylines that appeal to consumers. Eidos’ products are highly complementary to our business and will accelerate our aggressive expansion into Western markets. We believe that wide range of both companies’ quality products encompassing major genres will enable us to meet diversified customers’ expectations upon a global basis.”

Although it was widely believed that Warner Bros., a majority stake holder in Eidos, would prove successful in acquiring Eidos, perhaps that isn’t necessary if Square Enix moves in to buy and improve Eidos’s market value for them. Interesting moves.