Square Enix, Eidos agree buyout terms

Japanese publisher Square Enix has emerged as the buyer of struggling Britsoft firm Eidos, with a takeover to commence in May.

Both companies have agreed buyout terms, with Square Enix to inherit the Tomb Raider studio's complete share capital when the agreement is finalised in early May.

Eidos shareholders are expected to approve the deal at the firm's EGM later this month, following which, the company's shares will be suspended.

The deal is to be completed by May 6.