It doesn’t get any more official than this! Finally all the rumors are put
to rest, and the Rare Ltd. acquisition by Microsoft is official.
The announcement goes on to state that titles such as Kameo,
Banjo-Kazooie, and Perfect Dark
are in development. Full press release included.

In a $375 million deal that’s the talk of the industry, Microsoft has acquired
Rare Ltd., the video game development house responsible for console classics
like GoldenEye 007, Banjo-Kazooie, Donkey Kong Country, and Perfect
Dark. The announcement of the deal came from Seville, Spain, where this
year’s XO2 event is in full swing.

Chris Stamper, chairman and technical director of Rare, said, “Our
mission at Rare has always been to make the industry’s best games for the widest
possible audience. Teaming with Microsoft gives us the best opportunity to accomplish
this goal.” The UK-based company (which will remain on the far
side of the pond) will immediately begin work on Xbox titles exclusively.
. . .

“The last time I was this excited was the first time I picked up a
controller and played a game from Rare,” said Ed Fries, vice president
of Xbox Game Content at Microsoft. After Rare’s Donkey Kong Country
went on to sell over 8 million copies (becoming the best-selling 16-bit console
game in history), GoldenEye 007 did the same for the N64—in fact,
of the top 20 N64 games of all time, five were developed by Rare, including
the beloved James Bond shooter and its sibling in espionage, Perfect Dark.

“We’ve always insisted on pushing the envelope when it comes to creativity,”
added Rare co-founder and creative director Tim Stamper. “And now we
get the chance to create for Xbox.” Rare plans to develop at least
five games over the next two years in a variety of genres, including racing,
shooters and platformers. First up will be the new Kameo
roleplaying adventure game; Xbox gamers can also look forward to a new take
on the action-packed platform series Banjo-Kazooie
and the next installment of the FPS spy thriller Perfect Dark.

The official Press Release follows:

Microsoft Acquires Video Game Powerhouse Rare Ltd.

Developers of Such Worldwide Hits as “Donkey Kong 64,” “Banjo-Kazooie,”
“GoldenEye 007″ And “Perfect Dark” Bring Their Talents to
Xbox

REDMOND, Wash. — Sept. 24, 2002 — Microsoft Corp. today announced
it has purchased U.K.-based Rare Ltd., one of the world’s leading video game
developers, further demonstrating Microsoft’s commitment to providing the most
innovative interactive experiences available on its Xboxâ„¢ video game system.
Rare has been the mastermind behind some of the most popular video games in
history, including such global multimillion sellers as “GoldenEye 007,”
“Perfect Dark,” “Banjo-Kazooie” and “Donkey
Kong 64.” Under terms of the $375 million cash transaction, Rare will
today begin creating exclusive console gaming blockbusters for Xbox.

In a statement made from Seville, Spain, where the announcement was made to
both a live and worldwide webcast audience during the company’s annual X02 event,
Chris Stamper, chairman and technical director of Rare, said, “Our
mission at Rare has always been to make the industry’s best games for the widest
possible audience. Teaming with Microsoft gives us the best opportunity to accomplish
this goal. Microsoft’s dedication and commitment to game creators, research
and development, and to gaming innovation made them the obvious partner to take
Rare into the future.”

“We’ve always insisted on pushing the envelope when it comes to creativity,”
added Tim Stamper, co-founder and creative director of Rare. “And now
we get the chance to create for Xbox.”

Rare co-founders Chris and Tim Stamper and their talented team of game developers
and designers will continue to work out of Rare in Warwickshire, England. Rare
was founded in 1985 as a partnership between the Stamper brothers and Joel Hochberg,
now Rare president.

“This partnership significantly broadens our already outstanding portfolio
of games that will be available for Xbox. And it also broadens our reach internationally
as gamers around the world have demonstrated their fanaticism for what Rare
consistently produces,” said Robbie Bach, Chief Xbox Officer at Microsoft.

“The last time I was this excited was the first time I picked up a
controller and played a game from Rare,” said Ed Fries, vice president
of Xbox Game Content at Microsoft. “As a gamer, you could hardly wait
until Rare’s next title was announced. You didn’t know what genre it would be,
but it didn’t matter because you knew you were going to love it.”

Rare grabbed the attention of the video game world in 1994 with its creation
of “Donkey Kong Country.” Selling more than 8 million copies,
“DKC” went on to become the biggest- selling 16-bit title
in history.
Rare became one of the premiere developers in the world, with sales averaging
1.4 million units per title and nearly 90 million games sold since the company
was founded. Five of the top 20 all-time-best-selling N64 titles were developed
by Rare, including “GoldenEye 007,” the second-best-selling
game in North America, with worldwide sales topping 8 million.

With today’s announcement, Rare becomes the latest member of a star-studded
lineup at Microsoft Game Studios, joining such prestigious worldwide developers
as Bungie Studios, the masterminds behind the smash hit “Haloâ„¢,”
named Game of the Year by Electronic Gaming Monthly. Rare’s first creation for
Xbox, “Kameo,” is expected to reach store
shelves next spring. Also under development is the highly anticipated sequel
to “Perfect Dark.” The company is expecting
to develop at least five games over the next two years in a variety of genres,
including racing, shooters and platformers.

About Microsoft Game Studios
Microsoft Game Studios is a leading worldwide publisher and developer of games
for the PC, Xbox video game system and online platforms. Comprising a network
of top developers, Microsoft Game Studios is committed to creating innovative
and diverse game portfolios for the PC (http://www.microsoft.com/games/),
including such franchises as “Age of Empires®,” “Flight
Simulator” and “Zoo Tycoonâ„¢“; Xbox (http://www.xbox.com/),
including such franchises as “Halo,” “Project Gotham
Racingâ„¢” and “NFL Fever“; and Zone.com (http://zone.msn.com/),
the official games channel for the MSN® network of Internet services and
home to such hits as “Bejeweled” and “OutSmartâ„¢.”

About Xbox
Xbox is Microsoft’s future-generation video game system that delivers the most
powerful game experiences ever. Xbox empowers game artists by giving them the
technology to fulfill their creative visions as never before, creating games
that blur the lines between fantasy and reality. Xbox is now available in North
America, Japan, Europe and Australia.

About Microsoft
Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader
in software, services and Internet technologies for personal and business computing.
The company offers a wide range of products and services designed to empower
people through great software — any time, any place and on any device.

Note: The majority of this story comes from xbox.com.
We’ll keep you up to date on game title information as it develops.

Feel free to discuss this major news event in our Forums.

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