SCi in For Eidos Again - Elevation Offer Topped

It’s early Tuesday afternoon, and the situation with Eidos Interactive and its suitors has been thrown into confusion once again for us poor old newshounds. Perusing the news wires this morning, we almost spat steaming coffee over our keyboards as we read Reuters' announcement that Eidos had accepted an offer of £71 million from Elevation Partners. Taking a break from the endless calls to Eidos, we nearly choked on our lunch at the revelation that SCi has hit back with an offer of £76.1 million.

Talking to industry paper MCV, SCi Chief Executive Jane Cavanagh said “We believe that this is an excellent opportunity for both Eidos and SCi shareholders to invest in a major computer games publisher at a time when the global market has never been bigger. Over the last three years SCi has delivered strong sales and profit growth and consistently delivered product on time and on budget. Whilst Eidos’ brands, studios and staff have significant potential, its continued financial problems appear to have resulted in rushed development cycles, missed deadlines and products that have not done justice to their brands.”

“We are completely confident that the application of our successful business model across the enlarged group will significantly enhance shareholder value for both SCi and Eidos shareholders.”

We’ll be keeping an eye on this until someone emerges as the winning bidder – it's more exciting than a late night on Ebay, so stay with us.