SCI Heads Into Bad Weather

January 15th, 2008 by Arjan Olsder Posted in Companies & M&A | No Comments »

It seems SCI, part of Eidos, is currently in big financial problems due
to a stock crash. The company’s directors are asked to leave.

The company’s problems started when negotiations about a takeover where stopped on the 10th of January. After that announcement, the stock devalued to the point where it was 18 years ago. Another hot item that is responsible for a decrease in stock value is the release of Tomb Raider: Underworld, which has been delayed yet again. Now, the project is scheduled for December 2008.

The company has raised a loan of 40 million Euro in order to keep paying it’s bills. According to The Times, the company will deplete it’s financial resources before the summer.

Stock owners put the blame at Jane Cavanagh and her husband Bill Ennis, who both started the company 20 years ago. Both have been asked to leave the company.

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    Arjan Olsder is the Vice President of Pixalon Studios. Opinions expressed on this publication do not have to represent those of Pixalon Studios.


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