Enix Buys/Merges with Square!

GamesAreFun.com reports that Enix has purchased Squaresoft, and that Square & Enix have merged to form a new company called ''Square Enix,'' headed by Square President Yoichi Wada.

To any RPG fan, this is GIGANTIC news. Square and Enix are the two biggest RPG developers in the world today, and have been in competition with each other for years, mainly because of Square's ''Final Fantasy'' series and Enix's ''Dragon Quest'' series.

The reason for this huge merger? Square and Enix are merging to cut down development costs, which have become higher in the industry recently.

Enix will primarily be the "controller group" of the merger, even though they are the smaller company. Square shareholders will receive 0.81 a share, since it is a larger company than Enix.

This merger will help out both companies, as Square has been suffering some huge losses since releasing the Final Fantasy motion picture, and Enix has never really been big in America. Thus, this merger will help to soothe Square's profit losses and help establish Enix in the States.

Once again, Square Enix will be presided over by Yoichi Wada of Squaresoft, and the chairman of the company will be Enix's representative director chairman, Yasuhiro Fukushima. The merger is set to take place on April 1st, 2003, the fisrt day of the new fiscal year.

Source: GamesAreFun.com