Computer games maker Eidos received a financial lifeline today after a private equity firm featuring U2 frontman Bono struck a £71 million takeover deal.
Bono is one of six directors of US group Elevation Partners, which has agreed a 50p-a-share offer to acquire London-based Eidos.
The deal ends a takeover saga lasting more than eight months and ensures Eidos will receive £23 million in short-term funds from its lenders to continue trading.
Eidos - best known for creating cyber-babe Lara Croft - has been searching for a buyer after poor sales of a number of games and delays to key titles drove it deeply into the red.
The company last week revealed its cash reserves had plunged to £11.8 million during the final six months of 2004 and pre-tax losses totalled £29 million.
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