SEGA has announced its acquisition of Index, the parent company of Persona developer Atlus, in a deal said to be valued at 14 billion yen (approximately £88 million).

The deal is expected to be completed by November 1, 2013.

SEGA's Dream Corporation is the official owner of Index, with the entertainment firm pointing to three primary reasons why the deal will be beneficial.

"The Company believes that transfer of Index's operations to SEGA will create synergies, on the grounds that the deal will enable the Company to:

(1) gain access to prominent IPs in the home video game software, through which the Company can expect to achieve steady flows of revenue;

(2) expect further facilitation of revenue growth for the PC Online Game Business and Content Business for Smart Devices operated by SEGA and SEGA Networks Co., Ltd. by exploiting acquired prominent IPs and

(3) maximize the value of acquired IPs by effectively deploying them in the Pachislot and Pachinko Machines segment, Amusement Machine Sales and Amusement Center Operations segments."

Atlus' best known franchises include Shin Megami Tensei, Persona and Etrian Odyssey.

Source: SEGA Investor Relations