Square Enix sheds UIEvolution

by: Dan - posted: 12/17/2007 9:07:00 PM

In an interesting move, Square Enix today shed UIEvolution, the company it bought for $58 million in March of 2004.  UIEvolution is best known for developing mobile applications such as ESPN Mobile, IMDb mobile, The Chronicles of Narnia mobile game and MySpace mobile.  The release doesn't state the buyer (Seattle based-third party...Hmmmm), but it makes sense with merger mania running rampant, and seeing as how UIEvolution doesn't really fit the core development of Square Enix.  See the press release after the jump:

December 17, 2007 

SQUARE ENIX CO., LTD.
Yoichi Wada
President and Representative Director
(Code: 9684, Tokyo Stock Exchange, First Section)
Contact: Michihiro Sasaki
General Manager, Corporate Strategy Division
Notice of Change in Ownership in a Subsidiary 

SQUARE ENIX CO., LTD. (the “Company”) has announced today, December 17, 2007,
that the Company transferred all shares of stock issued by UIEvolution, Inc, a wholly
owned subsidiary of the Company in the U.S. (“UIE”), to a Seattle-based third party.
This decision was made in the best interests of the Company, UIE and shareholders. The
transfer is not expected to influence the Company’s financial forecast. UIEvolution will
continue to be headquartered in Bellevue, WA. 

About UIEvolution 

UIEvolution® is a leader in rich client and server software that enables leading
companies to deliver integrated multimedia experiences to consumers on any network
and any device. 

About Square Enix Co., Ltd. and Square Enix, Inc.

Square Enix Co., Ltd. (Square Enix), with headquarters in Tokyo, Japan, develops,
publishes and distributes entertainment content including interactive entertainment
software and publications in Asia, North America and Europe. Square Enix brings two
of Japan's best-selling franchises – FINAL FANTASY®, which has sold over 80 million
units worldwide, and DRAGON QUEST, which has sold over 43 million units
worldwide – under one roof. Square Enix is one of the most influential providers of
digital entertainment content in the world and continues to push the boundaries of
creativity and innovation.

Square Enix, Inc. is a wholly owned subsidiary of Square Enix Co., Ltd. with offices in
Los Angeles, California and Seattle, Washington. It handles operations in North
America, including development, localization, marketing and publishing of Square Enix
titles. More information on Square Enix can be found on the Internet at
http://www.square-enix.com.