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| Microsoft Acquires Video Game Powerhouse Rare Ltd. |
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| Developers of Such Worldwide Hits as Donkey Kong 64, Banjo-Kazooie, GoldenEye 007 and Perfect Dark Bring Their Talents to Xbox |
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REDMOND, Wash. - Sept. 24, 2002 - Microsoft Corp. today announced it has purchased UK-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 Xbox™ 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 a live and worldwide 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. |
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