Sony purchases 18.6% stake in Square!
Wednesday, October 10, 2001 - It has been announced today that Sony purchased 18.6 stake in Square Co. Ltd. at $124 million. Thanks to this move, Sony is the second bigger shareholder in the Japanese software house.
(Posted: Wednesday, October 10, 2001, 2:08AM GMT)
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It seems that Square itself approached Sony. The software giant is still suffering because of the enormous loss caused by Final Fantasy: The Spirits Within.
This are surely good news for all the ones who feared Final Fantasy X to be the last Squaresoft exclusive title on Ps2. Anyhow, the agreement permits Square to develope games for any gaming system, since Sony is "only" the second biggest shareholder.
These the words of Hisashi Suzuki, Square's president: "We are not necessarily obligated to Sony, because of this deal. But we can gauge the situation in the future and offer software to the best selling hardware maker, and at this time there is no doubt that Sony is the best."
But what will happen to Squaresoft's PlayOnline project? PlayOnline has been designed as a gaming network meant to offer games, chat, music to many different platforms. Adding to that, many big software houses like Enix and Namco partnered with Square to develop games for the new Network. If Playonline and Final Fantasy games become a Ps2 exclusive, X-Box and GameCube will surely have a bad time figthing the black Sony console.