August 23^rd, 2005 (12:10am) - Square-Enix made a shocking announcement today, revealing that the company has plans to buy Taito. Taito is the company behind such hits as Bubble Bobble, Space Invaders and more recently Graffiti Kingdom for the PS2.

Square-Enix has plans to buy 247,900 of Taito’s shares, which equals about 67% of the company. There is no set limit to how many shares can be bought, and 67% is the currently the maximum amount being traded publicly.

Square-Enix is faced with two options: it will continue to buy stocks until they hold 100%, or they’ll buy the maximum of what Taito will sell. Square Enix has stated that they will not go through with the buyout if they can’t have all the shares.

Both companies have expressed a interest in the success of the deal, and if it goes through Taito will become a full subsidiary of Square-Enix.