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Kotaku: Square to move on Tecmo

Update 2: Square's released a statement saying it's prepared to pay a 30 percent premium on Tecmo's stock. Details here.

Update: It's been announced. IGN's reporting it as well.

According to this sourceless Kotaku piece, Square Enix is to make an imminent takeover move on beleaguered publisher, Tecmo. From the piece:

Today at 1pm Japan Time, Square Enix will be outlining its plans for a friendly takeover troubled game maker Tecmo. Square Enix's takeover would help the company gain a stronger foothold in the U.S. market with popular Tecmo titles like the Ninja Gaiden and Dead or Alive games. What's more, Tecmo's games will help strengthen Square Enix's current portfolio, which is heavily dependent on RPGs.

Hopefully more will come out about this later in the day.

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Patrick Garratt

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Patrick Garratt is a games media legend - and not just by reputation. He was named as such in the UK's 'Games Media Awards', the equivalent of a lifetime achievement award. After garnering experience on countless gaming magazines, he joined Eurogamer and later split from that brand to create VG247, putting the site on the map with fast, 24-hour a day coverage, and assembling the site's earliest editorial teams. He retired from VG247, and the games industry, in 2017.

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