Microsoft has announced that it has acquired U.K.-based video game developer, Rare Ltd. for the tidy sum of $375 million in cash. Rare Ltd. will now exclusively develop games for Microsoft’s Xbox video game console.
The acquisition should provide innovative content for Xbox video games. Nintendo Company, Ltd. previously owned 49% of Rare Ltd., but recently sold its shares of Rare to Microsoft. Nintendo will, however, reportedly retain all intellectual property rights to titles that were developed for Nintendo’s platforms, such as the titles, StarFox and Donkey Kong.
Rare currently has five new games in the development stage for Xbox, including an action role-playing game known as “Kameo,” that is scheduled for release in Spring 2003, according to `Chief Xbox Officer,’ Robbie Bach of Microsoft. Says Bach, “Rare brings a level of creativity and focus on great gameplay” to Microsoft’s game studios with its top-drawer graphics. Rare will remain based in Warwickshire, England.