Square Enix plans Tecmo acquisition

Final Fantasy and Dragon Quest publisher Square Enix has revealed that it intends to launch a takeover bid for fellow Japanese outfit Tecmo.

IGN reports that Square Enix is prepared to pay a 30 per cent premium on current Tecmo stock. If the deal is completed, Tecmo will assume a similar status to Taito, which is Square Enix owned but operates as an independent brand.

The publisher cites Tecmo’s global market reach and development expertise, though does acknowledge that the firm is experiencing some turbulence currently – most likely a reference to its recent legal wranglings with acclaimed Team Ninja developer Tomonobu Itagaki.

The Tecmo board is expected to announce its decision on the move on September 4th – though Square Enix adds that should it be rejected, it will withdraw its bid peacefully.