Founded in 1990 as a company specialising in video compression, Eidos began moving into games in 1995 with the acquisition of Domark (known for 3D Construction Kit, Championship Manager, Hard Drivin', and many others). They also bought out Core Design (probably best known for Chuck Rock, Curse of Enchantia, Heimdall, and Rick Dangerous) and US Gold (Cybercon III, E-Motion, and Out Run).
On August 3rd, 2004, the Wall Street Journal reported that Eidos is in preliminary discussions with a small number of companies in relation of a possible business combinations, Eidos was quoted in WSJ as stating "These discussions are at a preliminary stage and there can be no certainty as to whether or not they will lead to an offer being made for the Company in due course."
External links
Official website (http://www.eidosinteractive.com/).
In early March 2005 Eidos admitted that cash reserves had dwindled to £11.9m during the second half of 2004 and pre-tax losses had grown to £29m.
On March 21, 2005 Eidos received a takeover bid from Elevation Partners, the venture capital group owned by former Electronic Arts president John Riccitiello and additionally has a number of notable partners including U2's lead singer Bono.
Eidos confirmed this morning that it is in talks that could lead to the sale of the Company.
This was primarily the result of Eidos' financial troubles, as the company announced in January that its earnings would be disappointing for the last quarter of 1999 and into this this year as it would struggle with the transition to the next generation of consoles.
Eidos currently has 10 games in development for the PS2, is supporting the Dreamcast, has been in discussions with Microsoft about X-Box development and Nintendo about the Dolphin, as well as continuing with PC development.
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