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Microsoft Makes Rare $375 Million Acquisition
The Dow Jones Business News reports that Microsoft Corp. has bought British video-game developer Rare Ltd. for $375 million. Rare, which brought gamers Donkey Kong Country and GoldenEye 007, was nearly half owned by Nintendo until last Friday. Nintendo sold its 49% stake back to Rare citing limited value to the Japanese company’s future.
Rare Co-Founders Chris and Tim Stamper and their team will reportedly continue to work out of their facility in Warwickshire, England as they create console games for Microsoft’s Xbox system.