Eidos Says No-Sale

Shares of UK-based publisher Eidos fell 10 percent as the company revealed in a statement that it has ceased all negotiations with other companies. There was speculation that Eidos was in buyout negotiations with several suitors, including such companies as Infogrames and Electronic Arts.

"Following the announcement on June 20 that it was in early stage discussions, which might or might not lead to an offer for the whole of the issued share capital of Eidos, the board of Eidos announces that these discussions have now terminated," the company said in its statement today. "Eidos will continue to pursue its strategy of being one of the world's leading independent developers and publishers of entertainment software."

When contacted for comment on the effects of the decision on the company's long-term plans a spokesperson for Eidos told GameSpot, "[the decision] has no effect on what we planned long-term with our franchise games. What we had planned, we were always going to do no matter what, and this didn't really have any effect on it." As in any buyout situation the speculation surrounding the sale of Eidos had raised concern among its employees, with this decision in place Eidos hopes to reaffirm its original goals and refocus its resources.

Going forward, the company hopes to use its popular franchises such as Tomb Raider, Soul Reaver, Commandos, Omikron, and Thief to establish a strong presence on next-generation platforms. The company will also continue its partnership with such high-profile development houses as Core Design, Crystal Dynamics, Blitz Games, Free Radical Design, Innerloop, Silicon Dreams, and more.