GamesIndustry.biz is reporting that, "Insight Investment Management and Pioneer Investment Management have sold approximately 11.13 per cent of the issued share capital to Square Enix, at the price of 32 pence per share."

 

What this all means is that According to Square Enix, it now has "irrevocable undertakings to vote in favor of the resolutions to be proposed at the Court Meeting and the EGM in respect of, in aggregate 84,947,489 Eidos Shares representing 32.23 per cent of the existing share capital of Eidos."

 

The move is part of Square-Enix's latest attempt to remain relevant with western gamers. Buying Eidos would give them the popular Tomb Raider franchise, and other established western titles.