Square Enix proposes Tecmo buyout


It seems Dead Fantasy might just becomes a living reality after all. Square Enix has announced its intention to purchase a majority stake in Tecmo, the Japanese company which recently bid farewell to both its president and most recognizable rockstar developer. As detailed in a press release issued this morning (via IGN), the house that built Final Fantasy (and vice versa) is offering Tecmo shareholders a 30% premium over the company's closing price on August 28th. If successful, the deal would see Tecmo fall under Square Enix Holdings, while retaining its brand and corporate structure.

Yoichi Wada, president of Square Enix, expressed hope that both developers would benefit from the deal, with the RPG maker gaining some inspiration from Tecmo's expertise in the action genre. Presumably, the folks at Tecmo would gain some pointers on in-game cameras in return.

We'll let you know what happens as soon as the suits are done talking.

This article was originally published on Joystiq.