Bono-backed firm loses out on Eidos

ELEVATION Partners, the venture capital firm backed by U2 star Bono, has failed in its attempt to acquire video game developer Eidos.

Last week Eidos, which developed the Lara Croft Tomb Raider game, agreed to a higher offer from SCi Entertainment.

Elevation, though, will get €1 million from Eidos in a break fee to compensate the firm for the time spent working on the bid.