Following reports late last year that Eidos Interactive was up for sale, negotiating with a handful of interested parties which also included Ubisoft and Electronic Arts, it is now being said that the Tomb Raider publisher has finally agreed to a deal with Japanese gaming giant Square Enix for about $120 million.

The price represents a premium of 129% over Eidos' current market value, but in order for the deal to actually go forward at least 75 percent of their shareholders will have to agree too. Eidos' board of directors is scheduled to meet up early next month to discuss the matter. The move is expected to bring some stability to Eidos and help Square Enix, best known for its Dragon Quest and Final Fantasy role-playing games, accelerate its "aggressive expansion into western markets."