Gulp. Nintendo buys Retro. The short but sweet press release inside.
Nintendo Strengthens Software Development by Becoming Majority Owner of Retro
Retro Studios Inc. becomes wholly owned subsidiary of Nintendo Co. Ltd.
Nintendo has become the majority owner of Retro Studios by purchasing shares from now former owner Jeff Spangenberg. Spangenberg desired to pursue other business interests and the opportunity to become the majority owner made itself available. Nintendo's belief in the talent of the companys 40-member development team and their excellent work on Metroid Prime, to be released this year, led to this decision. Nintendo looks forward to continued work with the team.