Nintendo buys Namco developer

Xenosaga dev Monolith Soft now in the hands of the big N...

Namco Bandai has flogged its Japanese development studio Monolith Soft to Nintendo, reports out of Japan are indicating.

The developer was formed by ex-Square man Hirohide Sugiura and is responsible for the well-received RPG series Xenosaga and Baten Kaitos, as well as reportedly developing Nintendo's own Disaster: Day of Crisis for Wii.

The news comes from a press release out of reliable Japanese news source Nikkei. According to our crack team of translators (Mike J, apprentice Japanese linguist) Nintendo now owns 80% of Monolith's stock while Namco still hold on to 16% of their original 96% holdings, worth approximately 75 million yen.

This of course gives Nintendo another experienced and much-needed second party developer, especially after the loss of Rare and Silicon Knights who both defected to Microsoft's console.

We suppose those Wii earnings had to go somewhere, eh?