Private Equity Solutions

Eidos Sought By SCi And Bono

Private Equity Fund Of Funds While Elevation Partners yesterday had announced that it had initiated a $135 million dollar bid for Eidos Interactive, today we are hearing that SCi Entertainment Group has made their own offer of approximately $145 million dollars for the company. Elevation Partners is of course, a private equity firm whose investment team includes U2's Bono, as well as former Electronic Arts president John Riccitiello and former Apple CFO Fred Anderson.

Eidos, which owns the rights to the Tomb Raider franchise and the current holder of the Legacy of Kain license has been plagued by financial troubles as of late, and speculation had been rampant as of late that the company would soon be brought out.

Eidos went on to issue a statement regarding the current situation:

"The Board of Eidos has noted today's announcement by SCi Entertainment Group Plc in relation to its proposed all share offer for the Company ("the Share Offer"). The Board will consider the Share Offer in the light of its other alternatives, including the recommended cash offer of 50 pence per share by EM Holding Corp., a company backed by Elevation Partners. A further announcement will be made in due course."

Advanced Media Inc. will keep you updated regarding the status of Eidos as the days go by, so stay tuned for more.

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