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Friday, March 11, 2005
Eidos On The Brink
7:39 AM | Marcus Albers | Comment on this story

One-time developing powerhouse Eidos is now on the brink of financial death, it appears. Industry website has posted an article detailing the company's dire financial situation.

Eidos released its six-month results today for the period ending December 31, 2004, showing an operating loss of GBP 29.2 million. Shares dropped of more than 30 per cent yesterday ahead of the news.
The company confirmed that it had received a buyout offer from an unnamed company, but that no assurances had been made yet on the offer.

Eidos has been given until the 25th of this month to secure a buyout. If nothing is in place by then, the company will be forced to dispose of assets and intellectual property equal to facility cost plus additional fees.

In other news, the new Tomb Raider and Hitman titles have been pushed back to 2006, a financial decision based on its current condition.

Stay with IMG for further developments. - Eidos on the brink as investors flee sinking ship

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