Square Enix's Wada confirms plans to acquire developers

Square Enix's Wada confirms plans to acquire developers
Michael French

By Michael French

May 20th 2008 at 10:44AM

President Yoichi Wada reiterates long-running expansion plans and bid to grow international empire

Talking to Reuters, Square Enix president Yoichi Wada has once again pledged to grow his company globally, but this time added that he expects to buy stakes in game developers - and confirmed he is already in talks with a number of parties.

"Economies of scale and breadth of scope is getting important. It may be a business alliance or it may be us taking a stake in others, but we need to go beyond traditional Square Enix," the report quotes Wada as saying.

"We face competition not only from Japanese videogame companies but from game companies worldwide. We also see some new players from outside the videogame industry coming in."

Last month the company announced it will restructure to allow Square Enix to grow quicker globally. Previously the company had said time and again that it was looking to establish alliances with other games companies in North America and Europe.

Wada wants to grow the amount of foreign sales the Japenese firm makes from 50 per cent to 80 per cent - and presumably the Square Enix boss sees this best realised through games developed both inside and outside of Japan.

He also told Reuters that the company "had the capacity" to pay for any acquisitions due to booming sales in Japan.