According to the press, Tecmo has formally rejected [b][url=http://www.videogamechat.net/news/industry-news/Square-Enix-makes-move-to-buy-out-Tecmo-1023Square Enix's offer to buy the firm[/url][b], essentially saying it can still grow without selling.

"In our company's source of revenue, as a result of a guarantee with our capable workers, a guarantee of steady game development and the preservation of our brand, there is a high possibility of improvement… Thus, our Managing Board declines the offer," Tecmo announced in a statement.

Tecmo has since released another statement saying that it is in serious talks with publishing giant Koei about the possibility of a merger.

"As the game industry environment changes with high-powered hardware, portable game machines and rapid growth as well as online mobile games, the accelerating consumer needs are varied and sophisticated. The industry has intensified. Multi-platform and the importance of overseas markets is pushing the industry towards global competition."

"Under these circumstances, these two companies have excellent financial positions, strengths and the ability to take advantage of each other in order to improve profitability and solidified the foundation of a worldwide leader."

Feel free to throw out your own suggestions for merger company names... now!

Tags : buyout : koei : merger : PlayStation 3 : square enix : Tecmo : Xbox 360

Comments

By: Dragonsoul On: 09:09 Sep 8th, 2008 Offline	They refused SE's offer but are looking into merger with Koei? I can't be the only one wondering what the difference is...I don't know a heck of a lot of Koei but SE is doing pretty good right now, far as I can see. Though I admit, I'm ususally never in favor of any mergers/buyouts as I feel it kills one company or the other, unless, of course, said merger is really so a company in trouble is still able to stay afloat.

By: Magus On: 09:52 Sep 8th, 2008 Offline	Kocmo? No, that just sounds wrong... Maybe TK? Short for Tecmo-Koei