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Enix Buys/Merges with Square!

Posted on Tuesday 26th November 2002 at 16:45 by Rubicant
Square Enix
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
Posted in: Square-Enix News

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Written by
Rubicant

Comments

Rangers51Comment 1: 2002-11-26 16:46
Rangers51 How will this affect SqEA, I wonder? Seems like it would mess up that little symbiotic affair.
RubicantComment 2: 2002-11-26 19:36
Rubicant From what I hear it won't affect either company's current projects. The main point of the two companies merging is to save Square some money and get Enix established more in the States.

Of course, there will probably be a few "Square Enix" games in the future as a result of the merger.
monkey-wrenchComment 3: 2002-12-04 23:41
monkey-wrench i think a better name for it should be "Squarenix".
Choco_kitty317Comment 4: 2003-01-03 14:15
Choco_kitty317 this IS huge!!! i wonder if along with their two leading searies (ff and dq) they will creat a combonation series.... or maby concepts from one will be included into the other.... well, we'll have to wait and see.......
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