Borrowing money was cheap until it wasn’t. When they bought the old Eidos stuff, everyone thought Square Enix was taking crazy pills. Now, given that everyone’s cutting back right now, it looks more like they knew something Embracer didn’t.
I think regardless of that deal, they were already on the debt-go-round for long enough it would’ve caught up to them eventually. I can’t imagine this was gonna be “one last job then we go clean.” The market would continue to demand more and faster growth until they hit the wall one way or the other.
Borrowing money was cheap until it wasn’t. When they bought the old Eidos stuff, everyone thought Square Enix was taking crazy pills. Now, given that everyone’s cutting back right now, it looks more like they knew something Embracer didn’t.
Wasn’t Embracer depending on a huge cash deal with the Saudis that fell through? Likely had an impact.
I think regardless of that deal, they were already on the debt-go-round for long enough it would’ve caught up to them eventually. I can’t imagine this was gonna be “one last job then we go clean.” The market would continue to demand more and faster growth until they hit the wall one way or the other.
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People were taken aback by how little they sold for. IO Interactive bought themselves back from Square Enix some time ago.