Taylor Wessing acts for Eidos in acquisition of IO Interactive

Taylor Wessing acts for Eidos on a conditional agreement to acquire the entire share capital of IO, a leading European video game software developer based in Denmark.

The initial consideration payable is £23 million and will be satisfied by £21 million in cash and 1.5 million new Eidos shares, subject to certain lock-up provisions. Deferred consideration of up to £5 million in cash is payable dependent upon the number of new game units released in excess of 2.1 million units per annum over the four year period following completion.

Taylor Wessing corporate partner, Simon Walker commented;

"Taylor Wessing are delighted to assist Eidos on this strategic acquisition, which will hopefully play a key role in the development of Eidos' next generation technology".

The team at Taylor Wessing advising Eidos comprised Simon Walker and Richard Clifton who worked with the Danish Interlex member, Plesner Svane Grønborg (Casper Münter and Henriette Stakemann).