Tech News--Bloomberg:>>>Microsoft Buys Bungie Software to Boost X-Box Game Development
quote.bloomberg.com
>>>Mon, 19 Jun 2000, 4:39am EDT
By Dina Bass
Redmond, Washington, June 19 (Bloomberg) -- Microsoft Corp., the world's largest software maker, said it acquired Bungie Software Products Corp. to bolster its development of games for personal computers and its planned X-Box video-game console.
Terms weren't disclosed. Closely held Bungie makes games such as ``Myth'' and ``Marathon.'' The Chicago-based game maker and almost all of its 50 employees will join Microsoft as a separate development studio within the Microsoft games division.
The purchase gives Microsoft new game titles and developers as it builds its first game console, expected to come out in the second half of 2001 to strong competition from Sony Corp., Nintendo Co. and Sega Enterprises Ltd. To make the X-Box a success, Microsoft needs to make sure there are games written to work with it by the time it's released.
``Bungie is going to move up to Redmond and create great games for the PC and X-Box and really help us shape X-Box as the games platform of the future,'' said Ed Fries, vice president of Microsoft's games division.
As part of the purchase, Microsoft acquired Take-Two Interactive Software Inc.'s 20 percent stake in Bungie. Take-Two, Bungie's current distributor, has acquired ownership of one of Bungie's two upcoming releases, a game called ``Oni,'' as well as the rights to ``Myth'' games.
Microsoft bought two video-game companies last year, FASA Interactive Technologies Inc. and Access Software Inc. Products from both will be released late this year.
Redmond, Washington-based Microsoft rose 3/16 to 72 9/16 in Nasdaq trading on Friday.<<<
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