Earlier this morning Bloomberg reported that multiple companies were interested in buying Square Enix. The news came from M&A expert firm CTFN who sourced info from two anonymous bankers. Now Square Enix has stepped in to set the record straight.
Square Enix has shut down rumors of a potential buyout, saying that it has no plans to sell itself or its gaming division. The publisher says it wasn't even approached by a potential buyer.
"Bloomberg has reported today that there is interest from several buyers to acquire Square Enix. However, this report is not based on any announcement by SQUARE ENIX HOLDINGS CO., LTD. We do not consider selling off the company or any part of its businesses, nor have we received any offer from any third party to acquire the company or any part of its businesses,"the company announced.
The truth is Square Enix has no reason to sell. Its business is doing well right now despite closing amusement facilities to COVID-19 disruptions. Nine-month net sales were up 34% from last year to 253.6 billion yen, driven by strong purchases of FF7 Remake and Marvel's Avengers. The company also has heavy-hitters like Final Fantasy 16, new FF14 content, and the PS5/PC exclusive Project Athia in the pipeline.
Analysts were careful to say that companies outline possible M&A deals, but often nothing becomes of them.
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