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Square-Enix to Buy Taito
August 22, 2005
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It has been announced today that Square-Enix shall be purchasing Taito. Taito executives, well as the company's main shareholder, Kyosera, have given the okay for the deal to go through. The transition will begin August 23, and is expected to be complete by September 21 of this year. The ultimate goal of Square-Enix is to buy up at least 370,000 shares in Taito (approximately 67% of the company). If for whatever reason this 67% of Taito's stock cannot be bought, the |
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deal will be cancelled. Should this go through, though, it will make Square-Enix will become the fifth largest game company in Japan.
While Taito is mostly known for games like Bubble Bobble by North Americans, they also have a strong presence in arcades and in the cell phone market in Japan, which are the two key aspects of the company that made Square-Enix want to purchase them. |
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