SCi renamed Eidos as buyout rumors swirl
British publisher assumes subsidiary's moniker as demi-tabloid <i>The Daily Mail</i> restokes EA, Ubisoft takeover speculation.
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As Atari touts its new lineup at today's UK event, another British publisher is also making headlines. This morning, cash-strapped SCi Entertainment announced that it was assuming the name of its subsidiary Eidos Interactive...minus the "Interactive." As of today, the company will be called simply Eidos, and its ticker symbol will change from SEG to EID on the London Stock Exchange.
Though the former SCi gave no reason for the name change, Eidos is a better-known brand, thanks to such series as Tomb Raider. In May 2005, SCi scooped up Eidos following a protracted bidding war with venture-capital firm Elevation Partners. Elevation went on to form superdeveloper BioWare/Pandemic and then sell it to Electronic Arts for $860 million in late 2007.
Speaking of buyouts, it appears the newly christened Eidos might be itself the subject of a takeover. On Sunday night, the British demi-tabloid The Daily Mail reported that "a source familiar with the matter" said the financially troubled publisher had received buyout overtures from Electronic Arts and Ubisoft. If that latter scenario sounds familiar, it should. In late 2007, rumors swirled that the Paris-based Tom Clancy publisher was courting then-SCi, along with Time Warner and an unnamed Chinese company.